Price of diesel, which currently costs Rs 47.15 per litre in Delhi, was last revised on September 14 when it was hiked by a steep Rs 5.63 per litre. Kerosene rates have not changed since June 2011 and it currently costs Rs 14.79 per litre in Delhi.

State-owned oil companies currently sell diesel at a loss of Rs 10.16 per litre, kerosene at Rs 32.17 a litre and LPG at Rs 490.50 per 14.2-kg cylinder.

The government has reiterated that it must hike fuel prices and reduce subsidies in a phased manner to slash the soaring fiscal deficit. On Monday, Prime Minister Manmohan Singh stressed that energy remained under priced in India, with prices of coal, natural gas and petroleum products remaining well below international prices.

Speaking on the topic, he said, "To meet our target of rapid, inclusive and sustainable growth we must undertake a phased rationalisation of energy prices to bring them in line with world prices."

Currently, diesel costs Rs 47.15 per litre in Delhi. It was last revised of Rs 5.63 per litre on September 14, 2012. Kerosene prices have been kept unchanged since June 2011 and this fuel currently costs Rs 14.79 per litre in the national capital.

State-owned oil marketing companies IOC, BPCL and HPCL are selling diesel, kerosene and LPG at a loss of Rs 10.16 per litre, Rs 32.17 per litre and Rs 490.50 for each refill, respectively.