Mumbai: The government has again deferred a decision on raising prices of petrol, diesel and domestic LPG and is unlikely to take a view on raising fuel prices at least until next week, after protest by the ruling UPA government's Left allies.

The CPI(M) shifted its entire focus on the rising inflation and the proposed hike in oil prices to further distance itself from the Congress-led UPA government ahead of the election year.

The Left governments in Kerala and West Bengal also said they will effect a token reduction in the sales tax on petrol and diesel prices in a bid to shift the entire blame of raising fuel prices to the Congress.

The UPA meeting, which discussed the Rs225,040 crore revenue loss oil PSUs face ended without a decision on raising price of petrol, diesel, LPG and kerosene and duty cuts as it failed to give a clear verdict.

Petroleum minister Murli Deora left for Mumbai - his constituency – in the morning after the core group of UPA failed to reach a consensus on the issue last night.

Finance minister P Chidambaram has been vehemently opposing any revenue losses by way of cut in customs and excise duty, while the UPA as a whole does not favour a major hike in fuel prices as it would add to inflation.

BPCL and HPCL would run out of cash to even import crude oil in July while IOC can sustain imports till September.

They lose Rs16.34 a litre on petrol, Rs23.49 on diesel, Rs305.90 per LPG cylinder and Rs28.72 per litre on kerosene.

State-run firms have already decided not to import any fuel even though domestic production of diesel was insufficient to meet a 20-22 per cent growth in consumption. If the companies run out of cash to import crude, fuel supplies would altogether stop.