New Delhi: You could well be in for a rude shock as petrol and diesel prices may rise by 4-5 rupees per litre after the monsoon session ends on September 7. The petroleum ministry is mulling over hiking the prices. At present, public sector oil companies are facing a loss of Rs 19.26 a litre on diesel.

Government sector Oil distribution companies are also likely to raise the prices of petrol by about 5 a litre.

A senior executive of an oil company said that the petrol prices were not raised last month due to the ongoing session of the Parliament but now it’s time to hike the prices as oil companies are not willing to bear the burden of the losses.

According to sources the hike in oil prices will be made keeping in mind its political implications. It is also believed that oil price hike would have an impact on inflation.

It is assumed that the government may also impose higher duty on diesel vehicles. Diesel is sold at 41.29 a litre in Delhi whereas petrol costs 68.46 per litre.


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