An increase in petrol, diesel, domestic cooking gas (LPG) and kerosene prices looks "imminent" after the Finance Ministry said it has no money to provide for fuel subsidy. "This (hike) is imminent. There is no question of holding back now," a top oil ministry official said. In all possibility, prices may be increased after the current monsoon session of Parliament ends. The development comes two days after the Petroleum Ministry sent a comprehensive note to the Cabinet Secretariat listing various options for increasing the prices of diesel and LPG. Petrol is expected to become costlier by 4 rupees a litre, diesel by 5 and LPG by 50 rupees a cylinder.
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