Get latest articles and stories on Latest News at LatestLY. Petrol and diesel prices were hiked again on Sunday to send rates soaring to new record highs across the country but top government officials insisted oil companies haven t passed on the entire increase warranted from international oil and gas rising to three-year highs and have ensured UK-like situation of pumps going dry isnt seen anywhere in India. Latest News | Petrol, Diesel at All-time High, Oil Cos Moderate Price Hikes to Cushion Consumers.