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Why petrol, diesel prices may rise after Lok Sabha elections

Fuel prices may rise sharply as soon as elections are over in India given the spike in crude prices in the international market. Oil Marketing Companies (OMCs), which have not fiddled with the prices much in the past month, are likely to pass the burden to the consumers. The oil PSUs may hike the retail price of petrol and diesel by Rs 3-5 per litre, but in phases, according to industry experts.