Rs. 5 hike in Petrol – Suggestion by Indian oil companies to compensate loss
Posted on: 29/Aug/2013 4:42:45 PM
Unites states of America can attack Syria anytime; in this situation the crude oil rate has been increased. Day before yesterday one barrel of crude oil was 116.27 dollar and yesterday it was raised to 118.04 dollars. Now, the rupee has gone down badly to make the situation worse.
Due to this, severe loss has been faced by the Indian oil companies. Daily they are losing Rs.389 crores and if the petrol and diesel rates remain unchanged, then the oil companies will lose more than 2 lakhs crores. Surely petrol and diesel sudden hike will lead to increase of other commodities, so it is believed that the hike will happen gradually.
