Oil minister Dharmendra Pradhan is likely to attend the meeting.
The Ministry of Petroleum & Natural Gas has reportedly proposed to hike LPG price by Rs 5 per cylinder effective from July 1, said reports on Tuesday.
This came days after rail fare was hiked by 14.2 percent.
With not even a month in office, Prime Minister Narendra Modi's government on Friday increased railway fares with the the passenger fare being hiked by 14.2 percent.
The freight rates have been hiked by 6.5 percent.
New fares will be effective from June 25.
This is the first steep hike in Railway fares in many years.