<p> An Empowered Group of Ministers (EGoM) headed by Finance Minister Pranab Mukherjee will meet Friday to take a decision on raising prices of diesel and liquefied petroleum gas (LPG), a finance ministry official said Thursday. <br /><br /></p>.<p>The meeting follows the sharpest ever single-shot hike in petrol prices Wednesday. <br />“EGoM meeting is scheduled Friday afternoon to discuss diesel, LPG prices,” said a finance ministry official who declined to be named. <br /><br />State-run oil marketing firms Wednesday announced the biggest ever hike of about Rs.7.50 per litre in the petrol prices.<br /><br />Oil marketing companies say they are losing on an average over Rs.500 crore per day on sale of diesel, kerosene and domestic liquified petroleum gas (LPG). <br /><br />The government provides subsidies of Rs.31 per litre on kerosene, Rs.13.64 per litre on diesel and Rs.479 for each 14.6 kg cylinder of LPG.</p>
<p> An Empowered Group of Ministers (EGoM) headed by Finance Minister Pranab Mukherjee will meet Friday to take a decision on raising prices of diesel and liquefied petroleum gas (LPG), a finance ministry official said Thursday. <br /><br /></p>.<p>The meeting follows the sharpest ever single-shot hike in petrol prices Wednesday. <br />“EGoM meeting is scheduled Friday afternoon to discuss diesel, LPG prices,” said a finance ministry official who declined to be named. <br /><br />State-run oil marketing firms Wednesday announced the biggest ever hike of about Rs.7.50 per litre in the petrol prices.<br /><br />Oil marketing companies say they are losing on an average over Rs.500 crore per day on sale of diesel, kerosene and domestic liquified petroleum gas (LPG). <br /><br />The government provides subsidies of Rs.31 per litre on kerosene, Rs.13.64 per litre on diesel and Rs.479 for each 14.6 kg cylinder of LPG.</p>