While BPCL will hike prices from Tuesday midnight, IOC and HPCL are expected to hike fuel prices from Thursday.
New Delhi: PSU Oil companies in India will hike petrol prices by Rs 2.96/litre. The fuel price hike will come into effect from Tuesday midnight.
While Bharat Petroleum Corporation Limited (BPCL) will hike prices from Tuesday midnight, Indian Oil Corporation (IOC) and Hindustan Petroleum Corporation Limited (HPCL) are expected to hike fuel prices from Thursday, according to sources.
The current trading price of international crude oil is around $90, which is one of the reasons for the fuel price hike.
Reacting on the hike, CPIM leader Nilotpal Basu said, "This was known that there will be an increase in prices continuously." He also said that the hike will have a cascading effect on people and the Indian economy.
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