Although the state owned companies’ losses have been reduced by the drop in global oil prices, it may not avoid the increase in diesel per liter, which goes for Rs. 4 along with the Rs. 20-25 increase per cylinder in LPG rates later in the month.

It has been reported that in May, companies were undergoing major losses of Rs. 495 crore per day in selling diesel, domestic LPG and Kerosene below their cost when imported. In the middle of the next month, the losses were reported to have come down to Rs. 479 crore.

Finance Minister, Pranab Mukherjee has stated in Kolkata that an Empowered Group of Ministers under him would meet soon to discuss raising the diesel, domestic LPG and maybe kerosene prices, as last week's Rs. 5 per liter rise in fuel price was the “steepest hike ever”.

The increase was below the desired Rs. 10.5 per liter increase, which would have brought retail fuel price at equal standing with its imported cost.

Moreover, activists from India's main opposition party were reported to have disrupted the morning rush-hour traffic in New Delhi on Monday protesting the increase in petrol prices, which is around 9%.