Mumbai: State-owned oil major BPCL has sought an increase in petrol rates by Rs 4 and diesel by Rs 2 per litre in proportion to the climbing crude oil costs in the worldwide markets.

While addressing the news persons after its 54th AGM on Thursday, Ashok Sinha, BPCL Chairman and Managing Director said, “We are hoping the price of petrol and diesel would be raised by Rs 4 and Rs 2 respectively.”

“The three oil companies are losing Rs 150 crore per day and BPCL's share is 25 per cent of that,” Mr. Sinha commented.

With crude prices touching a record $82 per barrel, petrol and diesel retail prices are expected to be encouraged.

The Indian crude oil basket touched a record high of $75.37 per barrel on Thursday, broadening the losses of the public sector oil companies.

The matter has acquired political overtones with Opposition parties re-affirming their demand for drop in prices of petroleum products to the pre-June 2006 level.

The Left parties, offering crucial outside backing to the ruling alliance, have also called for that the administration slash the petrol and diesel costs.