The price of petrol and diesel may go up by around Rs 3 per litre. An Empowered Group of Ministers headed by finance minister Pranab Mukherjee will meet on Monday to decide on the decontrol of fuel prices as recommended by the Kirit Parikh Committee.
Both the petroleum ministry and the Planning Commission want these recommendations implemented. The ministry also favours some increase in LPG and kerosene prices.
But a decision depends largely on whether railway minister Mamata Banerjee, a EGoM member, is willing to give up her opposition to it. Another major ally, the DMK, is also against any fuel price hike.