Will petrol, diesel rates increase after election results? Here is all you need to know

State-run oil marketing companies are likely to start rising petrol and diesel prices gradually to recover losses they have incurred by artificially keeping prices low, right from the run-up to the state assembly elections in four states and one union territory.

Fuel prices in the country have not been revised upwards by oil marketing companies (OMC) for almost two months, even as international crude oil rates continue to hover around the $67-mark. The trend could change soon after the election results are declared on May 2. State-run oil marketing companies are likely to start rising petrol and diesel prices gradually to recover losses they have incurred by artificially keeping prices low, right from the run-up to the state assembly elections in four states and one union territory.