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Petrol, diesel prices may be hiked by Rs 2-3 a litre
However, there may not be any duty cut in fuel, an alternative suggested by the Left parties, sources said.
The government is likely to decide on a hike of Rs 2 to Rs 3 per litre in the prices of petrol and diesel, but spare kerosene and cooking gas prices.
The Petroleum Ministry will prepare a note for consideration of the Cabinet, possibly on Thursday or Friday, sources said.
However, there may not be any duty cut in fuel, an alternative suggested by the Left parties, sources said.
Petroleum Minister Murli Deora on Tuesday called on Finance Minister P Chidambaram to discuss the oil scenario in the wake of spurting international crude prices and its cascading effect on the domestic oil companies in the absence of any increase in retail selling prices of petro-products in the country.
Sources said that the Finance Ministry, during the meeting, remained firm on its earlier position of not considering any duty cut.
