New Delhi, December 8
State-owned oil companies may raise petrol prices by Rs 1.50-Rs 2 per litre early next week, while a Rs 2 a litre hike in diesel rates is under the government’s consideration, a senior official said today.

“Petrol prices will be raised after the current session of Parliament ends on December 13,” the official said.

A hike in diesel prices also looks imminent as crude oil prices have inched closer to $90 per barrel, widening the gap between domestic retail rates and imported cost.

Petroleum Minister Murli Deora met Finance Minister Pranab Mukherjee yesterday to discuss convening a meeting of the Empowered Group of Ministers (EGoM) next week to decide on hiking diesel rates. — PTI