New Delhi: The Oil Companies (IOC, HPL etc) have decided to raise the petrol rate by Rs 2/10 a litre, in view of falling rupee value. He petroleum companies’ representatives will h old a meeting on Monday in this connection.

If the Central Government accepts the decision, the new rates would come into force from midnight on Jan 2, with a minimum of Rs. 2 hike. The private oil companies take a decision every 1st and 16th of month, to revise rates these days.

The price rise due to fall in rupee value is “cent per cent true”, the companies said in a joint statement today here.