New Delhi: Diesel prices could be increased by a steep Rs 3 to Rs 5 per litre after the monsoon session of the Parliament comes to end, due to the fall in the rupee and spike in crude oil prices as a result of the Syrian crisis.

The underrecovery on the sale of diesel has shot up sharply to Rs 10.22 a litre this month.

Union oil minister M. Veerappa Moily said while there was no proposal with him “just now” to raise diesel prices, the depreciating rupee was a matter of concern.

“I have not thought of increasing (diesel) prices as of just now… (What holds in the) future, I can’t say,” said Moily.