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Saturday, 31 December 2011

Rs 2.25 hike in Petrol prices from January 1

Petrol_price
The New Year may not start well for the petrol vehicle owners as it has been reported in that the state-run oil firms plan to raise petrol prices by about Rs 2.25 a litre from Sunday unless the government asks them to defer the move in view of assembly elections.

Oil companies revise petrol prices every two weeks but in the middle of this month, the government told state firms to refrain from any increase as the move could cause uproar during the winter session of Parliament. As a result, the price rise would be relatively steeper as oil firms need to make up for the losses, according to oil company executives.Automobile News

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