Even as inflation touched the double-digit mark and international crude oil prices showed signs of climbing, Petroleum and Natural Gas Minister Murli Deora on Wednesday met Finance Minister Pranab Mukherjee to discuss issues such as fuel price hike, rising crude oil prices and inflation.
Mr. Deora, who has been trying to seek consensus on fuel price hike, refused to disclose details of his discussions with Mr. Mukherjee.
Mr. Deora impressed upon Mr. Mukherjee the need to take up the fuel price hike issue on the sidelines of Thursday's Union Cabinet meeting.
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The matter has now been left to Mr. Mukherjee to fix the date and time for a meeting of the Empowered Group of Ministers (EGoM) headed by him.
“I am trying to get a meeting of the EGoM fixed by next week. The Finance Minister has assured me that he will look into the matter after talking to the other members,” Mr. Deora said.
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The petrol price will go up by Rs. 3.73 a litre on aligning the domestic prices with international rates.
In the case of diesel, there is a proposal to give freedom to the oil firms to fix the price till such time the international crude oil rates stayed below $90 a barrel. If accepted, the price will rise by Rs. 3.80 a litre.