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The prices of kerosene sold through the public distribution system (PDS) are likely to be revised upwards shortly for the first time in over a decade. The hike could be as high as 200 per cent.

Petroleum minister Ram Naik is holding discussions with his two junior colleagues and ministry officials. The emerging consensus is for a sharp increase, which could take the price of PDS kerosene from Rs 2.59 per litre to Rs 7.

"It is only a matter of time before the government takes a decision on this politically sensitive issue. The hike could come any time in January," a ministry official told Business Standard.