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Journalism of Courage
The Oil marketing companies (OMCs) — Indian Oil, Bharat Petroleum and Hindustan Petroleum — are ready with their final set of calculations on increasing the prices of petrol and diesel in the country. An increase of Rs 1.10 to Rs 1.25 per litre has been worked out for petrol, while the proposed increase in diesel price will be in the range of Rs 1.45 to Rs 1.85 per litre.
These prices include the impact of 2 per cent education cess levied by the government.
However, the OMCs are still not sure if they will be allowed to implement this hike or whether a last minute intervention from the government will prevent them from passing on this increase to the consumers.
This is despite the fact that the increase in price of petrol and diesel is in line with the government’s new policy on providing ‘limited’ autonomy to the OMCs to adjust the prices of petrol and diesel.
The petroleum product pricing policy, approved by the Cabinet recently, allows the OMCs to fix prices of petrol and diesel within a band of 10 per cent.
