Petroleum prices may increase even before the Parliament session ends.
Finance Minister P. Chidambaram and Petroleum Minister M. Veerapa Moily hold a meeting today in this regard.
However, Moily refused to talk about the quantum of price hike, but he did mention that his Ministry will support the Finance Ministry's move, if any.
"We are worried on rupee depreciation. Total under recovery is likley to exceed Rs 1.23 lakh crore," he said while adding that the focus will be on energy conservation to compress import.