Deora rules out immediate hike in petroleum prices

Petroleum minister Murli Deora today ruled out any immediate hike in the prices of petroleum products and said that a call would be taken after the crude prices stabilise.

"Don't talk about price revision at this point of time. The prices keep going up and down every day. You can't decide every day what happens. The prices have to be stablised. We will study for a month or six weeks....," Deora told reporters at the sidelines of a function here.

When asked whether the government would affect any increase in petrol and diesel prices in the eventaulity of crude prices touching $75 per barrel level, Deora said, "We will see it when it happens."

On July 1, the government increased the petrol and diesel prices by Rs four and two per litre respectively to cut losses of oil companies.