GoM defer decision on fuel price hike

New Delhi, Jan 31: The Group of Ministers (GoM) today deferred the decision on the hike in retail prices of fuel to the Cabinet's next meeting.

''We have not taken any decision in today's GoM meet and have referred the matter to the Cabinet for a decision,'' Petroleum Minister Murli Deora said. Deora had said recently that a hike in the retail prices of fuel would be minimal and the Empowered Group of Ministers (EGoM) would take a decision.''We will ensure that the price hike is minimal so that the consumers do not complain and the oil marketing companies do not suffer heavy losses,'' Mr Deora had assured.

The EGoM, headed by External Affairs Minister Pranab Mukherjee, had to consider a proposal by the oil marketing companies who reportedly called for an increase of Rs 4 and Rs 2 a litre for petrol and diesel prices respectively.

UNI