New Delhi: The government says, it may take a decision session on the Parikh Panel recommendations of freeing the oil prices before the beginning of the Budget session. It however says, there is no proposal to raise the prices of petroleum products for now and any decision on the issue will be taken by the cabinet committee on Prices. The Petroleum Minister Murli Deora told reporters in New Delhi today that Cabinet is expected to take a decision on the issue very soon.

An expert group, headed by Kirit Parikh, yesterday suggested freeing petrol and diesel prices and suggested raising LPG rates by a steep 100 rupees a cylinder and kerosene by 6 rupees a litre.The report also said that the deregulation of auto fuel prices would result in a hike of 4.72 rupees a litre in petrol prices and 2.33 a litre diseal.

Earlier in the day, Deora's deputy Jitin Prasada hinted that the government may not accept the report in totality and would protect the common man's interest.

State-owned Indian Oil, Bharat Petroleum and Hindustan Petroleum currently lose Rs 180 crore per day on selling petrol, diesel, LPG and kerosene below the imported cost. In full-fiscal, they are estimated to lose 46,030 crore rupees.