Though the government has raised petrol prices for the second time in a month on the back of rising crude oil prices, consumers of diesel can heave a sigh of relief for atleast sometime now.
Oil Secretary S Sundareshan assured that that the government can not hike diesel prices under current circumstances. In an interview to CNBC-TV18, he said that the government is likely to compensate bulk of companies’ under recoveries as upstream companies will not bear over one third of under recoveries.
He informed that total diesel under recovery stood at Rs 72,000 crore in FY11 while at current crude price of USD 93-94, it is Rs 7 per litre.
State-owned oil companies on Saturday raised petrol prices by Rs 2.50-Rs 2.54 per litre.
Indian Oil Corp, has hiked raise petrol prices by Rs 2.50 per litre while Hindustan Petroleum Corp (HPCL) would increased rates by Rs 2.54 a litre. Bharat Petroleum Corp (BPCL), the third state fuel retailer, raised price by Rs 2.53 per litre.
The three firms from on December 15-16 raised petrol prices by Rs 2.94-2.96 per litre, the biggest hike in six months.
He informed that total diesel under recovery stood at Rs 72,000 crore in FY11 while at current crude price of USD 93-94, it is Rs 7 per litre.
State-owned oil companies on Saturday raised petrol prices by Rs 2.50-Rs 2.54 per litre.
Indian Oil Corp, has hiked raise petrol prices by Rs 2.50 per litre while Hindustan Petroleum Corp (HPCL) would increased rates by Rs 2.54 a litre. Bharat Petroleum Corp (BPCL), the third state fuel retailer, raised price by Rs 2.53 per litre.
The three firms from on December 15-16 raised petrol prices by Rs 2.94-2.96 per litre, the biggest hike in six months.
