Petrol and diesel prices may increase soon at the end of the ongoing Assembly elections with oil companies looking to raise the retail price of the two auto fuels between Rs 2 and Rs 3 per litre in phases and make up for the losses they incurred by keeping the prices at artificially low levels in the run up to the local elections.
Government sources said that oil companies are making losses to the tune of Rs 3 and Rs 2 per litre on sale of petrol and diesel, respectively, due to rise in global crude prices that also impacted the international product prices.
