Petrol, Diesel price hike on the anvil, and this one could be big

Brace yourself for a sharp rise in the cost of petrol and diesel as there is a fuel price hike on the anvil after polling ends given the rising price of crude globally. 

India's crude basket cost has gone up almost $5 since February, when the last hike was -:

• February: $61.2/bbl
• March: $64.7/bbl
• April*: $66/bbl 

In fact petrol prices are down 77 paise through March to pass on the benefit of the low prices seen in February. Analysts now expect to see a Rs 2/lt hike to accommodate the hit to oil marketing companies.