Decision on diesel, LPG prices on May 25 | SupportBiz

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Decision on diesel, LPG prices on May 25

An Empowered Group of Ministers (EGoM) headed by Finance Minister Pranab Mukherjee will meet on May 25 to take a decision on raising prices of diesel and liquefied petroleum gas (LPG), a finance ministry official said. The meeting follows the sharpest ever single-shot hike in petrol prices on May 23.

"The EGoM meeting is scheduled for the afternoon of May 25 to discuss diesel, LPG prices," said a finance ministry official, who declined to be named.

State-run oil marketing firms, on May 23, announced the biggest-ever hike of about INR7.50 per litre in the petrol prices.

Oil marketing companies say they are losing on an average of over INR500 crore per day on the sale of diesel, kerosene and domestic liquified petroleum gas (LPG).

The government provides subsidies of INR31 per litre on kerosene, INR13.64 per litre on diesel and INR479 for each 14.6 kg cylinder of LPG.