GoM meet on fuel prices ends inconclusively

January 17th, 2008 - 9:52 pm ICT by admin  

New Delhi, Jan 17 (ANI): The meeting of Group of Ministers (GoM) on fuel prices ended inconclusively on Thursday and the GoM is expected to meet again in the next two days to discuss price hike options.

We have discussed some proposals. Some ministers were not present, so the meeting was inconclusive… we will meet again tomorrow or the day after, Union Petroleum Minister Murli Deora told reporters here after the meeting.

Railway Minister Lalu Prasad, Defence Minister A K Antony and Planning Commission Deputy Chairman Montek Singh Ahluwalia were not present during the meeting.

On January 3, Deora had said that hiking fuel price in the country is not the only solution for losses being faced by the public sector oil companies, and other options in this regard are being discussed.

Earlier this month, crude oil prices touched an all-time high of 100 dollars a barrel thus triggering fears of more under-recoveries by oil Public Sector Undertakings (PSU).

According to reports, Indian Oil, Bharat Petroleum and Hindustan Petroleum are likely to lose over 697 billion rupees on sale of petrol, diesel, domestic Liquefied Petroleum Gas (LPG) and Public Distribution System (PDS) kerosene. (ANI)

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