Monday night’s rapier moves by the PSU refiners to raise fuel prices are simply not enough to shield their margins, analysts said.
They said the 80-paise hike was insufficient. With crude likely to remain alleviated, the refiners may have to raise retail prices by Rs 15-20 a litre.
The PSU refiners finally bit the bullet and hiked the prices of petrol and diesel after a gap of almost 140 days, effective Tuesday.
Prices were raised again on Tuesday night: petrol prices in Calcutta will go up 72 paise to Rs 106.23 from Wednesday. Diesel prices are up 80 paise to Rs 91.42 per litre.
