A core group of ministers on Wednesday held inconclusive deliberations on a proposal to raise fuel prices, necessitated by a spike in global crude prices that threatens to spawn an oil import crisis. External Affairs Minister Pranab Mukherjee, Finance Minister P Chidambaram and Petroleum Minister Murli Deora held discussions on the issue for an hour at a meeting that was also attended by Planning Commission Deputy Chairman Montek Singh Ahluwalia.
Although Deora evaded the media, sources said there is a possibility that the GoM on fuel prices may meet on Thursday to deliberate on the options before the government to diffuse an imminent crisis that will leave oil PSUs without cash to import crude oil.
The GoM on fuel prices headed by Mukherjee may take a call on the issue before forwarding it to the Cabinet Committee on Economic Affairs for approval.
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