CCPA to meet today to discuss fuel price hike: Report

The Cabinet Committee on Political Affairs (CCPA) will meet later today and there is a possibility for a discussion about the fuel price hike, as reported by few media agencies. The Cabinet was looking forward UPA Chairperson Sonia Gandhi's return from her foreign trip to decide on the fuel price hike.

Oil companies have been insisting on for Rs 5 hike in petrol prices. They also want a hike in diesel, LPG and kerosene prices. Diesel, domestic LPG and kerosene rates have not been changed since June 2011 even though cost of production has gone up 28%. The Oil Ministry had circulated a Cabinet note on fuel price hike. Finance minister P Chidambaram was reportedly supporting for a hike in fuel prices.