Ministers fail to agree fuel price move

A meeting of ministers that many had expected to recommend India's first rise in retail prices of petrol and diesel in 18 months has ended without a decision.

A meeting of ministers that many had expected to recommend India's first rise in retail prices of petrol and diesel in 18 months has ended without a decision, Oil Secretary MS Srinivasan told reporters on Thursday.

HT Image

"Nothing is decided," he said, without elaborating as he left the meeting.

Oil Minister Murli Deora added that the panel would meet again on Friday or Saturday.

The government is debating ways to ease pressure on state oil firms which have to sell fuel at discounted rates and have been hit by a surge in global crude prices.