Government-run oil companies have demanded a hike in prices of petrol and diesel by Rs 2.90 per litre and Rs 4.68 a litre in line with the rise in cost of raw material (crude oil).
"The public sector oil marketing companies (Indian Oil, Bharat Petroleum and Hindustan Petroleum) have sought increase in the prices of sensitive petroleum products namely petrol, diesel, PDS kerosene and domestic LPG," Petroleum Minister Murli Deora told Lok Sabha on Thursday.
The average price of Indian basket of crude oil during 2007-08 (upto August) has increased to $68.34 per barrel as compared to 62.46 dollars a barrel during 2006-07.
The oil companies, he said, have sought an increase of Rs 2.90 per litre in petrol prices, Rs 4.68 a litre in diesel, Rs 15.47 per litre in PDS kerosene and Rs 174.75 per cylinder in domestic
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