By Our Special Correspondent
Daijiworld Media Network - Panaji
 
Panaji, Jun 27: Union minister of petroleum and natural gases Murli Deora today said that they are closely monitoring the international crude oil prices before deciding on the petroleum product price hike.
 
“Unfortunately, the prices of crude oil have gone up recently. It’s like a sword swinging between two ends. We are just watching the situation. We are concerned about the hike in the crude oil prices,” Deora told reporters here this afternoon.
 
“We have to wait little more to see whether they stabilise. We can think something only when volatility is reduced. That’s why we have not taken any decision,” the minister said.
 
Deora is down in Goa along with the union minister of state for petroleum and natural gases Jitin Prasada and other ministry officials to participate in the oil companies’ conclave.
 
He also met Goa chief minister Digamber Kamat and state government officials and discussed state-specific issues.
 
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 dollar that time, the prices were slightly hiked. “We reduced the prices when international rates fell to 40 to 41 dollar,” he added.