Asia Bizz: The oil marketing companies run by the state plan to raise the prices of the petrol by Rs. 5 per litre from April onward in India. The prices will be raised after the companies get an informal nod from the oil ministries.
The decision about the raised prices is likely to be taken on March 31, 2012 in a meeting where the oil firms will meet for a fuel price review. A senior executive for the state run refinery said that they are incurring a loss of about Rs 7 per litre on petrol due to which they have to raise the price by at least Rs/ 5. As the government owns the companies, they have to wait for the green signal.