Petrol prices may go up by Rs 2 per litre

June 15, 2013 11:59

Oil marketing companies may declide to increase petrol prices by Rs 2 per litre in their scheduled meeting on Saturday.

Oil companies are under tremendous pressure due to weakening rupee.

Petrol price was last hiked by 75 paisa per litre and diesel by 50 paisa a litre on May 31.

State-owned oil firms had been in January authorised to raise diesel prices by up to 50 paisa per litre every month till entire losses on the fuel are wiped out.

The Indian rupee ended a tough week Friday that saw the currency slump to a record low as part of a broader regional market sell-off.

The rupee fell 0.8 percent for the week, its sixth consecutive weekly loss, having hit a record low of 58.98 on Tuesday.

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