Petrol price may touch Rs67/litre soon in Ahmedabd

Amdavadis should brace themselves for another hike in fuel prices as rising crude oil rates may force public sector oil companies to hike petrol prices by about Rs5, which may bring it to Rs67 per litre from May 11 onwards. Diesel price too will rise by another Rs3 and cross Rs45 per litre.

Contrary to popular belief that public sector oil companies are minting money, these companies are actually bearing a loss of Rs450 crore daily as diesel in the country is sold at a subsidised rate, said secretary of Federation of Gujarat Petroleum Dealers Association, Arvind Thakkar.

“Once the elections in states get over, the government may announce a hike in fuel prices. And that too in the range of Rs3-5 per litre,” he said.

Petrol, which is now no more regulated, is expected to see a rise of Rs5 per litre. With this, unleaded and premium petrol prices in Ahmedabad which are now at Rs62.28 and Rs64.78 per litre, respectively, may rise to around Rs67 and Rs69 per litre respectively, said Thakkar.

Similarly, in case of diesel, unleaded which is sold at Rs42.06 per litre is expected to rise to Rs45 per litre. “We are expecting diesel to be dearer by Rs3. The premium variety will also rise to a level of Rs47 per litre,” said Thakkar.

Thakkar also added that oil companies are losing Rs18 per litre on diesel and Rs29 on kerosene.