New Delhi: Indian Oil Corporation (IOC) on Thursday said that the decision to hike the petrol prices was tough but there was no option left to tackle the impact of rising crude prices.
IOC Chairperson RS Butola, however, hoped that the prices will come down in the near future. "If government orders us for rollback we will certainly do that but so far we have not received any order," he said.
"The petrol price hike was necessary as we had exhausted all options. Oil price might cool down in the near future. Oil marketing companies has lost 2400 crore in the last two months or so. Oil companies are losing Rs 50 crores daily for keeping the prices low," he said.
05:30 PM, May 24, 2012
New Delhi: Petrol price may be hiked by about a rupee per litre from next month as the Indian currency has weakened against the US dollar making imports costlier. The rate change may, however, need a political clearance as assembly elections in five crucial states, including Uttar Pradesh and Punjab, have been announced. "While international price of gasoline (against which domestic petrol prices are benchmarked) are more or less at...
10:42 AM, Dec 25, 2011
Government hiked diesel prices by Rs 3 per litre, LPG has been hiked by Rs 50 per cylinder and kerosene prices by Rs 2 per litre.
11:33 PM, Jun 24, 2011
Dhaka: South African skipper Graeme Smith does not foresee a repeat of the shock 2007 loss to Bangladesh in Saturday's Cricket World Cup game and feels the co-hosts will be under lot of pressure playing before their passionate home crowd. While conceding that the Bangladesh players will be high on motivation as it was a must-win game for them to move into the quarter-finals, Smith Friday said: "Obviously, it's a...
09:59 PM, Jan 03, 2008