Oil price hike: Centre to wait for full house, then decide

The RJD leader, said sources, wants prices to be kept steady until Bihar Assembly elections are over — a concession similar to what was given to NCP ahead of Maharashtra polls last month.

Finance Minister P Chidambaram said another Cabinet Committee on Economic Affairs meeting would be held in a day or two when Defence Minister Pranab Mukherjee, Pawar and Yadav would be present. ‘‘There was an extensive discussion… Petroleum Minister Mani Shankar Aiyar made a detailed presentation, but another CCEA meet will be held in 24 to 48 hours to decide on the issue,’’ he said.

In a last-ditch attempt to get the prices going, Aiyar has suggested a marginal increase in petrol by upto Rs 0.77 per litre and diesel by Rs 1.25 a litre. He has also suggested unchanged prices of LPG and kerosene.