Brace up: 'Immediate' hike in fuel prices post-Karnataka polls likely

ET Now learns from sources that oil companies may hike fuel prices by as much as Rs 1.50 per litre 'immediately' after the Karnataka elections. The revision could be made effective by May 13. Notably, state OMCs were holding back on revising their prices since April 24 despite surge in crude prices and rupee depreciation. IOC chairman Sanjiv Singh on Thursday had termed the timing of price freeze and the assembly elections "coincidental". Nayantara Rai reports.
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