The State-owned Indian Oil Corporation (IOC) increased petrol price by 32 paise a litre from midnight on Monday. The increase, in keeping with the rise in the cost of crude oil, comes close on the heels of Hindustan Petroleum Corporation Limited having raised petrol price by 31 paise from Monday. The increase is less than a third of the Rs 1.10 the state run marketers are losing on each litre of petrol.International crude has climbed to $87 per barrel.
Petrol in Delhi, now sold at Rs.52.59 a litre, will cost Rs. 52.91. Petrol in Mumbai will cost Rs. 57.35 against Rs. 57.01, while in Kolkata, the price will go up by 34 paise, to Rs. 56.81. In Chennai, the price has been increased to Rs.57.44 from Rs.57.09.
crackcrack
