By IANS,
Kolkata: Union Finance Minister Pranab Mukherjee Wednesday said the state-run oil companies had to increase the petrol price due to a rise in the rates of crude in the international market.
“Petrol prices have been deregulated and it has been decided that when the prices of the petrol would increase in the international market, the oil companies would adjust the prices,” he said.
“Now the price of petroleum crude has reached almost $90 per barrel (159 litres). So, prices have been increased (in India),” Mukherjee told mediapersons here.
Three state-run oil companies – Indian Oil, Bharat Petroleum and Hindustan Petroleum – have taken a decision to hike the price of petrol by Rs.3 per litre.
The previous fuel hike was made June 25, when the government ended state control on pricing of petrol.