OilMin seeks EGoM meet on diesel, LPG rate hike

New Delhi : With oil companies losing Rs 333 crore per day on selling fuel below cost, Petroleum Minister S Jaipal Reddy has sought a meeting of a high-powered ministerial panel to decide on revising the rates of diesel, domestic LPG and kerosene.

"I have asked for a meeting of the Empowered Group of Ministers (EGoM)," Reddy told reporters after a meeting with Finance Minister Pranab Mukherjee, who heads the EGoM.

State-owned oil firms are currently losing Rs 9.27 per litre of diesel, Rs 26.94 per litre of kerosene sold through the public distribution system (PDS) and Rs 260.50 per 14.2-kg LPG cylinder supplied to households for cooking purposes.