EGoM meets tomorrow to decide on fuel prices, hike in offing

New Delhi, Jan 16 (UNI) Petroleum Minister Murli Deora today said the issue of a hike in fuel prices is likely to be resolved tomorrow in the Empowered Group of Ministers (EGoM) meeting.

''There is no problem. I hope the issue will be resolved tomorrow,'' said Mr Deora.

The EGoM, headed by External Affairs Minister Pranab Mukherjee, will meet tomorrow to take a decision on the issue. It is understood that an increase of Rs 4 and Rs 2 a litre in petrol and diesel prices is being considered to offset the impact of the spiralling international crude prices.

Since its formation in November, the EGoM has not met even once. Its meetings were postponed twice for various reasons.

The three government-owned OMCs such as Indian Oil, Bharat Petroleum and Hindustan Petroleum are projected to lose Rs 69,753 crore on sale of petrol, diesel, LPG and PDS kerosene as the government has not allowed them to raise prices in line with the price of imported crude.

Petrol is being sold at a loss of Rs 8.74 a litre, diesel at Rs 9.92 per litre, kerosene Rs 20.53 a litre and LPG at a loss of Rs 256.35 per cylinder.

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