Staggered petrol hike expected as crude still above $125
A staggered rise in domestic transportation fuel prices are expected soon as Brent Crude oil price remains above $125 per barrel.
At present, India imports 85 per cent of its crude oil needs.
It is estimated that the high crude oil prices will raise prices of domestic transportation fuels in the range from Rs 10 to Rs 32 per litre.
However, the state-owned OMCs did not revise petrol and diesel prices on Tuesday.
It was widely expected that the OMCs would revise the current prices on or after March 7, which was the last day of voting in the ongoing state Assembly elections.
