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

Govt to monitor crude oil prices, before petro hike: Deora
PTI
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First Published: Sat, Jun 27 2009. 07 58 PM IST
Updated: Sat, Jun 27 2009. 07 58 PM IST
Panaji: The 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 here.
He said that the government will wait for little more to check whether the prices stabilize.
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.
The minister said that the Union cabinet will monitor the situation before deciding on the prices which are directly affecting the poor people.
“Congress-led government is fully aware that poor people suffer with such a price hike. So we try our level best to ensure that the prices are not hiked. We will increase it only when crude prices go high,” Deora said.
The UPA minister reminded that in past when international crude price was $ 137 that time, the prices were slightly hiked.
“We reduced the prices when international rates fell to $ 40 to 41,” he added.
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First Published: Sat, Jun 27 2009. 07 58 PM IST
More Topics: Oil | Crude | Price hike | Petrol | Diesel |