New Delhi: A day after state-owned oil firms like Indian Oil, Hindustan Petroleum and Bharat Petroleum declared about the chances of increase in the price of petrol by 1.85 per litre, the Petroleum Ministry today said, this decision is to be taken by the oil firms.

As said by Oil Secretary Mr. G C Chaturvedi, “It is for the oil companies to decide. They will take the decision at the right time”.

As reported, HPCL Director (Finance) Mr. B. Mukherjee on Tuesday said, “As heavy losses are incurred by the oil firms by selling it at the current rate, they may have to increase the price to make up the loss.