THE government has decided to pay .

Sujay Mehdudia

OMCs were told to hold back hike till Parliament session ended
They are losing Rs. 4.17 a litre on sale of petrol currently

NEW DEHLI: State-run oil major Bharat Petroleum Corporation Limited (BPCL) on Tuesday raised petrol prices by Rs. 2.95 a litre.

The hike would come into effect from Tuesday night.

STATE-RUN oil firms have decided to raise petrol prices by about . 3 to partly make up for higher cost of crude oil, but diesel rates remain unchanged for the time being.

Bharat Petroleum Corp has raised petrol price by . 2.95 a litre in Delhi from Wednesday, a company spokesman said. Indian Oil Corp (IOC) and Hindustan Petroleum Corp (HPCL) are also finalising new petrol rates.

Ethanol blending with petrol has resumed after more than a year. Last week, sale of blended petrol started in Bangalore, Mathura and parts of Gujarat.

When Ranbir Singh Butola took over as the managing director of ONGC Videsh Ltd (OVL) in 2004, the overseas subsidiary of Oil and Natural Gas Corporation (ONGC), his brief was to expand India's oil and gas footprint.

Hindustan Petroleum & Bharat Petroleum May Increase Rates By 28 And 26 Paise

PETROL will become costlier by 27 paise from Tuesday at over 18,600 retail outlets of Indian Oil Corp, making it the first state-run oil company to exercise the pricing freedom announced by the government on June 26.

Other public sector fuel retailers

Ajay Modi / New Delhi April 13, 2009, 1:08 IST

The battle between private oil companies and government oil marketing companies (OMCs) over petroleum product pricing is set to intensify.

The Appellate Tribunal for Electricity (APTEL) has admitted the OMCs

Ajay Modi / New Delhi March 26, 2009, 0:53 IST

The prices of petrol and diesel have been reduced twice since Raghaw Sharan Pandey took over as secretary in the ministry of petroleum and natural gas. In conversation with Yeshi Seli, he points out that, ideally, the retail prices of petrol and diesel should be linked with the price of crude in the international market

The recent cooling of oil prices to levels of $80 per barrel is perhaps getting oil marketing companies such as BPCL, HPCL and IOC excited. When the government worked out the