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BPCL increases petrol prices by Rs 2.96 per litre

New Delhi, December 14
Bharat Petroleum Corp today hiked petrol prices by about Rs 2.96 a litre effective midnight tonight, and other state-owned oil companies IOC and HPCL will follow suit tomorrow. The Oil Ministry today gave the three companies a go-ahead to raise petrol prices after international crude oil prices touched $90 per barrel.

BPCL, the second largest fuel retailer in the country, took the lead to raise petrol prices by Rs 2.96 a litre to Rs 55.87 per litre in Delhi, sources privy to the decision said.

IndianOil Corp and Hindustan Petroleum Corp will do the same by an equal measure tomorrow, sources said. State-run oil firms are taking turns to increase prices so that they are not accused of acting as a cartel. PTI

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