New Delhi, Feb 4 : The Union Cabinet on Monday deferred its meeting that was scheduled to take a decision on hiking petrol and diesel prices.

Prime Minister Manmohan Singh headed Cabinet was to take a final decision on the recommendations of the Group of Minister (GoM) for hike in fuel prices.

According to sources, petrol price could be hiked by two rupees a litre, while diesel price could be hiked by one rupee per litre with some cut in excise duty on the two fuels.

Last week, External Affairs Minister Pranab Mukherjee headed GoM had left the final decision for any hike for the Cabinet.

The Petroleum Ministry is said to be opposed to any increase in fuel prices. It, however, wants a cut in excise duties on petrol and diesel. (ANI)