Centre to monitor crude oil prices, before petro hike: Deora

Union Government will monitor the crude oil prices for sometime before deciding on the petroleum price hike. Unfortunately the international crude oil prices have gone up. We are watching the situation," Union Minister for Petroleum and Natural Gas, Murli Deora told reporters in Panaji.

Updated on: Jun 27, 2009, 15:03:09 IST

PTI | By HT Correspondent, Panaji

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Union Government will monitor the crude oil prices for sometime before deciding on the petroleum price hike.

"Unfortunately the international crude oil prices have gone up. We are watching the situation," Union Minister for Petroleum and Natural Gas, Murli Deora told reporters in Panaji.

He said that the government will wait for little more to check whether the prices stabilise.

The minister was down in state to participate in the oil companies conclave. Deora along with Union Minister of State for Petroleum and Natural Gas, Jitin Prasada met Goa Chief Minister Digamber Kamat and other state government officials.

The Union Minister said that Congress-led-government is fully aware that poor people suffer due to price hike and hence had cut down the prices when international prices are reduced.

"The cabinet will discuss the crude oil prices before deciding on the matter," he added.

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