GoM fail to agree fuel price move

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A meeting of Indian 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 M S Srinivasan said on Thursday.

"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.

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