Brace yourself for another increase in prices of diesel and cooking gas (LPG).
Official sources said the hike could range from Rs. 2-3 per litre for diesel and Rs. 15-25 per LPG cylinder. Diesel currently costs Rs. 37.75 a litre in Delhi, an LPG cylinder Rs. 345.35
A decision on the hike is expected at the next meeting of the empowered group of ministers (EGoM) on Thursday. Petrol prices were raised by Rs. 3 per litre on December 15. Diesel and cooking gas prices were last revised in June.
“The EGoM, headed by finance minister Pranab Mukherjee, will review the price of diesel and cooking gas in the backdrop of a sharp rise in international oil prices and decide on the quantum of hike,” confirmed a senior petroleum ministry official.
Global crude prices on Friday hit their highest level since October 2008, hovering around $91 (R4,122) a barrel.
Ruling out the possibility of a sharp price hike, the official said, “With the finance ministry agreeing to continue with the subsidy being provided to oil marketing companies, the hike in consumer prices will be kept to a minimum.”