It seems that petrol prices may again go for a hike of 65 paise per litre from firday if the state oil companies gets political confirmation for the action.As all this was happened because of fall in the rupee at low of Rs.53.17 per US dollar has developed in raising the price of oil imports which was said by a top source at a state-run oil company.

The under-recovery on petrol is Rs 0.55-0.56 per litre. After adding local sales tax, the desired increase in Delhi comes to Rs 0.65—0.66 a litre," he said, adding that the oil companies will review prices on Thursday and any change will be effective from December 16.

State-owned oil companies have cut petrol prices on two occasions in the past one month after international oil rates eased. The companies reduced petrol prices by Rs 2.22 per litre, or 3.2 per cent, from November 16 and followed this with a Rs 0.78 per litre cut from December 1.

The source, however, could not say if oil companies will go ahead with increasing prices on Thursday, in line with the practice of changing rates every fortnight. "The actual loss to us is only 50-55 paise. We can tolerate it for another fortnight if need be," he said.

The petrol prices which will revise by Public sector oil comapnies on 1st and 16th of every month which all rely upon on the international prices of the previous fortnight, may informally consult the parent Petroleum Ministry before taking a conclusion.Parliament is in session and an increase in petrol prices may lead to protests by opposition parties. The price of gasoline has averaged $111.11 per barrel in Singapore this month, up from $108.25 a barrel in the previous fortnight.