Petrol prices hiked by 3.14 Rs. Effective midnight

Tags:petrol price,petrol price hike,Fuel price hike,petrol price hike 3.14 rs from midnight,IOC,HPCL,BPCL,
Petrol price hike,US Dollar at high,
State-owned oil firms like ioc,bpcl and hpcl  raised petrol prices by Rs 3.14 per/litre as the rupee touched two-year low against the US dollar, increasing the cost of importing crude oil. The hike will be effective from midnight.

"Oil retailers are losing Rs 2.61 per litre or Rs 15 crore per day on sale of petrol. Together with local taxes, the hike needed to level domestic rates with international prices is about Rs 3 per litre," a top government official said.

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