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

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      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.

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