EGoM meeting on fuel price hike begins

June 24th, 2011 - 9:27 pm ICT by IANS  

Pranab Mukherjee New Delhi, June 24 (IANS) The ministerial panel to consider a fuel price hike began its meeting here Friday evening.

The empowered group of ministers (eGoM), headed by Finance Minister Pranab Mukherjee, was to have met in the afternoon, but the meeting was deferred for later in the evening.

Announcing the postponement after his meeting with finance minister, Petroleum Minister S. Jaipal Reddy said the group was looking at various options on how to help oil marketing companies recover their losses on diesel, cooking gas and kerosene.

Oil marketing companies suffer losses of Rs.13.72 per litre on diesel, Rs.26.16 per litre on kerosene and Rs.381.14 per LPG cylinder.

He added that the petroleum ministry has given no proposal on fuel price hike. “We have offered an analysis and the same will be discussed at the EGoM meeting,” said Reddy.

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