Petrol price may be hiked by Rs 5, diesel by Rs 3

Fuel prices are likely to be hiked again after the Parliament's Budget session ends on May 22.

...

According to a Times of India report, petrol price may be hiked by Rs 5, diesel by Rs 3 and LPG cylinder by Rs 50.

...

Hinting at a fuel price hike, Finance Minister Pranab Mukherjee said in Parliament last week that it was impossible for the government to maintain the current level of fuel subsidies.

He said the government would have to address the under-recoveries of oil marketing companies Indian Oil, Bharat Petroleum and Hindustan Petroleum.