PSU oil firms are likely to push for hike in petrol prices as international oil prices are again on a upward move on hopes of some action from the US Federal Reserve and European Central Bank.
Brent crude, which is used to price international varieties of oil, rose 94 cents to $114.64 per barrel in London on Tuesday.
PSU oil firms are currently losing close to Rs 3.8 per litre on sale of
petrol, which was deregulated in June 2010 but its rates haven't moved in tandem with cost because of government's aim to keep inflation in check.
But with the monsoon session of Parliament in progress the government may not give the signal for another hike in
petrol prices.
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