Oil firms may inflict more pain, say analysts
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.
