Ministers may suggest fuel price hike - secy

NEW DELHI (Reuters) - Union Oil Secretary M.S. Srinivasan said on Monday a panel of ministers, formed to look into the pricing of essential commodities, might recommend an increase in petrol and diesel prices.

The panel, which is scheduled to meet on Dec. 14, could also suggest changes in taxes on petrol and diesel.

A surge in global crude oil prices has left state-run oil companies losing millions of dollars a day as they have to sell fuel at cheap rates.