Petrol and diesel prices may need to be raised by another Rs 5 per litre despite multiple hikes over the past three weeks, as state-run oil marketing companies (OMCs) continue to incur under-recoveries of around Rs 610 crore every day amid elevated crude oil prices and fuel losses triggered by the West Asia crisis. According to Prashant Vasisht, Senior Vice President and Co-Group Head, Corporate Ratings, ICRA Ltd, OMCs are currently losing around Rs 5.5 per litre on petrol and Rs 4.5 per litre on diesel, even after cumulative retail fuel price increases of about Rs 7.5 per litre since May 15.