Diesel, petrol prices likely to be hiked next month

Tuesday, Aug 21, 2012: According to sources, the petroleum ministry and state oil firms plan to raise diesel and petrol prices next month as crude oil rose to a three-month high last week and diesel consumption has soared because of the weak monsoon and poor power supply.

According to the report, diesel is expected to be costly by Rs 4-5 a litre and petrol rates could be raised by 3 a litre, as told by government and industry officials.