State-run oil and marketing company Indian Oil continued the hike in prices of petrol and diesel for a second straight day. The oil company raised the price of petrol by 15 paise a litre and diesel by 23 paise a litre.
On Monday, the state-run oil companies hiked the price of petrol and diesel by 17 paise and 21 paise after a gap of 19 days in view of the Karnataka elections.
Indian Oil had stopped the daily price revision of petrol and diesel on April 25. The other two major state oil companies Hindustan PetroleumNSE 1.71 % and Bharat Petroleum followed suit.
International crude oil prices have firmed up meanwhile adding to the pressure on oil companies. Read More