The prices of diesel, kerosene and LPG are likely to be scaled up steeply sources said. They also mentioned that there could be Rs 4 or 5 increase of the diesel for every liter. The LPG cylinders would be priced Rs 50 more than before. The petrol prices would remain unaffected until the oil companies decide to make any amends tot he prices.

Finance Minister P Chidambaram and Petroleum Minister Jaipal Reddy have been favoring the price hike considering the fact that the subsidy bill has reached an unbearable point and it could affect the international ratings.

The Finance Ministry has debated that the reform legislations in the future should be stalled if the prices are not increased.
Congress and the allies have been opposing the price hikes. Trinamool Congress has been against any kind of price hike while the congress themselves have oppose the hike for the price of kerosene.

The Cabinet Committee on Political Affairs is set to meet today to discuss the issue of a fuel price hike. The delay in the decision was due to the absence of the leader of UPA who has been away for the treatment of an undisclosed illness.

The Oil Ministry had circulated a Cabinet note on fuel price hike. Finance minister P Chidambaram was reportedly pushing for a hike in fuel prices. Oil companies demanded a Rs 5 hike in petrol prices apart from a hike in diesel, LPG and kerosene prices

(AW- Anil)