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(From Financial Express)
After announcing a marginal reduction in the prices of petrol and diesel by around 18 to 22 paise per litre last fortnight, oil refining companies are planning to increase the prices of these two fuels by around 30 paise per litre from September 2. Speaking to FE, senior company officials from Indian Oil Corporation (IOC), Bharat Petroleum Corpora- tion Ltd (BPCL) and Hindustan Petroleum Corp- oration Ltd (HPCL) confirmed the move. However, it still remains to be seen whether the embattled petroleum minister, Ram Naik will allow the oil companies to raise the prices of petrol and diesel. Giving details, senior oil company officials said that …