Essar Oil on Tuesday declared an increase in retail fuel costs due to the rising international crude costs. Although the prices of petrol and diesel in Gujarat would not be changed, other states where the company has retail stores would have prices increase by Rs.1-2.50 per litre.
OMCs such as Bharat Petroleum, Indian Oil Corporation and Hindustan Petroleum sell auto fuels at sponsored rates; private firms are facing challenges in keeping rates low as crude has increased to a 7 month up of $71 on each barrel.
Auto fuels were sold by Essar Oil according to the prices of OMCs till Monday and have increased petrol prices by Rs.1-2.50 per litre and diesel rates by Rs.1-2 per litre, based on petrol pump’s location. Petrol costs in Gujarat have been stable as the company’s factory is situated in the state.