New Delhi, May 24 -- State-run oil companies raised petrol and diesel prices by nearly Rs.1 per litre each on Saturday - the third increase in eight days - taking the cumulative revision to just under Rs.5 per litre since May 15, even as international crude has eased from its peak. Concurrently, Indraprastha Gas Ltd raised CNG rates by Rs.1 per kg, its third increase since May 15, taking the total CNG hike to Rs.4 per kg in under 10 days. Industry executives and sector analysts say the incremental hike cycle is unlikely to end soon. Despite three revisions, OMCs are estimated to still be losing Rs.8-10 per litre on petrol and diesel. The trajectory of under-recoveries illustrates the partial nature of each correction: daily losses across th...