A weak monsoon is drying up UPA government’s chance of raising retail price of diesel even though its key economic adviser is pushing for a Rs 5 per litre hike in the petroleum product.

Sources said the Prime Minister’s Economic Advisory Council had worked out the required price revisions in diesel, cooking gas and kerosene but is keeping it in abeyance following indication from the Prime Minister’s Office to await the final outcome of the monsoon.

The economic advisory council, sources said, was suggesting Rs 5 per litre hike in diesel, Rs 2 per litre in kerosene and Rs 100 per cylinder of domestic cooking gas with a cap of four subsidized cylinders per annum to each consumer to keep the Centre’s contribution pegged at around Rs 40,000 crores.