2 weeks more to finalise mechanism for petrol price hike: IOC
New Delhi   13-Jul-2010

Public sector oil PSU IndianOil (IOC) today said that it will take another two weeks time to finalise the mechanism of determining the petrol price hike in the country.

''It will take another two weeks time for us to finalise the mechanism of determining the petrol price hike in the country,'' IndianOil chairman BM Bansal told reporters here today.

Meanwhile speaking to mediapersons Petroleum Secretary S Sundareshan said that there will be a meeting between the government and the oil PSU's after July 15 to further delibrate upon this.

However, he said that 'ultimately it is the OMC's who will decide pricing of petrol.'