Centre to Watch Crude Oil Prices before Petro Hike

The central government has said that it will take a decision on the petroleum prices hike only after watching international crude oil price scenery.

“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 government would wait for a little more time to see if the crude oil prices become stable in the international market.

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

Deora was in Goa to take part in the conclave of oil companies. During the visit, he along with Union minister for state for petroleum and natural gas Jitin Prasad met chief minister Digamber Kamat and other state government officials.

The Union minister said the 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.

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