According to latest reports, the diesel and LPG prices may go up next week to reduce the burden on the oil companies. The government has reportedly given the go-ahead to oil companies to proceed with the hike.

However, there will be some relief to the consumers, as the petrol prices may go down by Rs 1.50 per litre due to the fall in crude prices and appreciation of Rupee against the USD.

However, it is feared that a hike in diesel and LPG prices, may increase the inflation pressure on the common people. Cost of transportation and essential commodities will see a steep rise if the diesel prices are hiked.