M A I N   N E W S

Petrol price hike imminent
Sanjeev Sharma/TNS

New Delhi, May 10
The meeting of the Empowered Group of Ministers (EGoM) scheduled for tomorrow to decide on diesel and cooking gas price hike has been deferred to next week, while indications are that petrol price hike may take place before that.

"The EGoM headed by Finance Minister Pranab Mukherjee was to meet tomorrow evening. It has been been postponed to accommodate some ministers. It could be anytime on (May) 17 or 18," Petroleum Minister S Jaipal Reddy told reporters here. This would mean that a decision would take place after the counting of votes for five assembly elections is over on May 13 and the results are known.

The EGoM was to meet tomorrow to consider raising the diesel price by Rs 3-4 a litre and domestic LPG rates by Rs 20-25 per cylinder.

Diesel, LPG and kerosene are not deregulated and for that the EGoM has to decide but petrol has been deregulated and technically PSU oil firms can decide on hikes although it is well-known that the decision requires a government nod.