Way to many price hikes happening in the automotive world, so why should oil companies stay behind. Citing the need for cleaner fuel for Bharat Stage IV engines, oil companies will hike petrol price by 41 paise and diesel price by 26 paise. This is already the second price hike this year (the earlier one succeeded the  Union budget).  There will also be hike in Bharat III fuel prices in other than 13 cities once BS III norms go into effect in October.