Diesel, LPG price hike likely

Union Oil Minister Veerappa Moily today said that a hike in diesel and LPG prices could be announced very soon. Moily also said that the Kelkar Committee recommendations were under serious consideration and a decision will be taken as quickly as possible on fuel price hike. The Kelkar Committee has suggested drastic reforms in oil pricing, with reportedly an approximate Rs 4.50 hike in diesel price and Rs 100 hike in LPG expected.