No Change in Petrol Price as Rupee Recovers

December 17, 2011 | By Odisha360 News Bureau

Bhubaneswar: State-owned oil companies on Friday decided not to change petrol prices this fortnight as the rupee recovered 90 paise to end the day at 52.75 against the dollar.

Talking to the media persons about the impact of rupee movement on the oil marketing companies, Oil Minister S Jaipal Reddy said, “The fall in depreciation of rupee will be good for oil marketing companies.”

It is noteworthy to mention that oil companies were to review petrol prices on Thursday but had postponed the decision till Friday as they were waiting for political clearance for raising petrol by Rs 0.60 to Rs 0.70 per litre, said sources.