‘Hike cycle is unlikely to end soon’: Experts as petrol, diesel prices increased for third time in 10 days

Petrol and diesel prices have been increased for the third time in eight days, with state-run oil companies raising prices by nearly 1 per litre each. This takes the cumulative revision to just under 5 per litre since May 15. Industry executives and sector analysts say the incremental hike cycle is unlikely to end soon, as oil marketing companies are estimated to still be losing 8-10 per litre on petrol and diesel.