Deora, FM meet to talk fuel price rise

Petroleum Minister Murli Deora will meet Finance Minister Pranab Mukherjee on Sunday to finalise the details of the fuel price hike proposal.

Petroleum Minister Murli Deora will meet Finance Minister Pranab Mukherjee on Sunday to finalise the details of the fuel price hike proposal.

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The petroleum ministry did not take its proposal to free petrol prices and increase the price of other fuels like diesel, cooking gas and kerosene to the Cabinet, which met on Thursday apparently because of the opposition from the Trinamool Congress and the DMK to such a move.

“The meeting will work out the modalities of addressing the subsidy shortfall on cooking fuel under-recoveries of state-owned retailers, and also discuss possible hike in fuel prices,” said a source in the ministry.

Deora said he had met Mukherjee and the PM on Wednesday to push for more subsidies for the three state-owned fuel retailers — Indian Oil, Hindustan Petroleum, and Bharat Petroleum.