Yet another hike in petrol price

                                           

Hindustan Petroleum on Tuesday gave vent to the demand of state run oil marketing firms for a Rs 2 per litre increase in petrol price, a move unlikely to find immediate favour with the government in view of approaching Parliament session and high inflation rate. B. Mukherjee said that “From November 1, there are some losses on petrol. To cover them, we may have to increase prices. The loss on petrol at present is Rs.1.50 per litre… After including local levies, the desired increase in retail prices would be Rs.1.82 per litre [in Delhi],” HPCL Director (Finance) B. Mukherjee told journalists here. He, however, did not give any date for the proposed hike. “We are in consultations,” while announcing a Rs 3,364.48 crore loss in the quarter ended September against a profit of Rs 2,089 crore in the previous corresponding period.