Govt may hike petrol, diesel prices
Petrol and diesel prices are likely to be hiked by Rs 2 per litre and Re one per litre, respectively, after the current monsoon session of Parliament ends next week.
The petroleum ministry has moved a cabinet note seeking hike in prices of petrol, diesel, kerosene and LPG in line with the rise in international crude oil prices.
The note has not specified the quantum of hike leaving it for the cabinet to decide, officials said.
Petrol is now being sold at a loss of Rs 2.79 per litre while diesel is priced Rs 4.65 a litre below the cost. Oil companies suffer a loss of Rs 15.50 on sale of every litre of kerosene and Rs 178.15 on sale of every LPG cylinder.
