India's finance and oil ministers will meet on Feb. 14 to discuss fuel pricing and subsidies, a senior government official, who did not want to be named, told reporters on Thursday.
"We will discuss fuel pricing and if there is a need to raise prices, then to what extent and how much to be raised for which product," he said.
The government is concerned about the mounting oil subsidy bill, but raising fuel prices would stoke inflation. India's wholesale price index rose to one-year high of 7.31 percent in December, while food prices rose an annual 18 percent in January.
On Wednesday, the oil minister, Murli Deora, said his ministry would submit its recommendations on fuel prices to the cabinet on the same day.
Media reports said the issue was on the federal cabinet's agenda on Thursday, but government officials said fuel prices were not discussed.