labels: Economy - general
Ministers fail to decide on fuel price hike again; plan to meet next week news
31 January 2008

Mumbai: The group of ministers (GoM), set up to consider an increase in fuel prices, today ended its second meeting in one month without reaching a decision.

The GoM failed to resolve the contentious issue and is expected to meet again on Saturday, petroleum minister Murli Deora said, adding, the cabinet is expected to consider a modest increase in fuel price next week.

"The meeting was inconclusive and no decision has been taken. The cabinet will take a view on the issue in its next week's meeting," Deora said after the GoM meeting.

Deora said petrol and diesel prices are set to rise, most likely next week, but any hike would be modest.

"The hike will be (kept) minimal... I can assure that people will not complain," he said.

The government has kept prices of petrol and diesel under check since June 6, 2006, despite high international crude prices and complaints by oil marketing companies of major erosion in margins.

The meeting was inconclusive as railway minister Lalu Prasad Yadav and chemicals and fertiliser minister Ram Vilas Paswan failed to turn up.

Ministry officials, meanwhile, said the government would order a marginal increase in prices of petrol, diesel and cooking gas, or LPG, while keeping kerosene prices unchanged.


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Ministers fail to decide on fuel price hike again; plan to meet next week