Oil cos say no directive from govt to defer price hike
The government has not asked state-owned oil firms so far to avoid raising the retail price of petrol and diesel in view of next month’s elections in Karnataka, heads of IOC and HPCL said today. The government was said to have informally directed state-owned fuel retailers not to raise petrol and diesel prices in the run-up to the December 2017 assembly elections in Gujarat. By some accounts, as much as 45 paisa increase warranted in petrol and diesel rates was not passed on. This time around Indian Oil Corp (IOC),…
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