Home » Business » Mixed signals from govt on petrol prices
Sources said a meeting of heads of the oil marketing companies -- Indian Oil, Bharat Petroleum and Hindustan Petroleum -- was called off.
Senior officials from the oil marketing companies said they'd been directed by the government not to announce any reduction in petrol prices this week, as this might amount to buckling under pressure from the opposition.
News agencies, however, reported a likelihood that petrol prices might be revised on Friday.
The OMCs have over the past week been indicating scope for reducing rates from June 1.
The price is benchmarked against international rates, which have fallen from $124 to $114-115, allowing the room to reduce the petrol price by Rs 1.50-1.60
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