The group of ministers is likely to meet on Saturday to seal a decision on raising fuel prices and duty rationalisation, which may be considered by the Cabinet as early as Monday.
"Yesterday's GoM meeting was inconclusive as two ministers were not present. We did discuss some proposals and I hope the GoM and government will find a solution (to the spike in crude oil prices)," Petroleum Minister Murli Deroa told reporters in New Delhi on Friday.
"Our endeavour is that consumers are not burdened too much and oil companies losses are taken care of," he said, adding the GoM is likely to meet again on Saturday or on Sunday.
Petroleum ministry officials said External Affairs Minister Pranab Mukherjee has indicated a time during Saturday evening for reconvening the GoM meet. If that happens Cabinet may be pressed to meet on Monday so that a decision is taken before Deora and petroleum ministry officials embark on overseas roadshows for NELP-VII blocks.
Deora said: "I can assure that people will not complain."