Another Hike in Petrol Prices? Possibility of an Increase Up to ₹10
Is another hike in petrol and diesel prices across the country inevitable? Economists suggest that the answer is indeed yes. They predict that prices may need to be raised by up to ₹10 to help mitigate the losses incurred by oil marketing companies. In this regard, the financial services firm MK Global has released a report. Crude oil prices in the international market are currently on the rise against the backdrop of escalating tensions in the Middle East. Consequently, MK Global noted that if domestic prices are not raised to reflect this trend, the financial losses of public sector oil marketing companies will continue to mount.
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