State-owned oil companies meet on the first and sixteenth working day of every month to revise rates of petrol, and weakening rupee will most likely force them to announce a further increase in petrol prices in their meeting on Monday.
Experts are expecting oil companies to increase petrol prices by Rs 2.10-2.13 per litre, though upcoming Assembly Elections in five states may also the government to leave the petrol prices untouched for the time being.
