Minister for Petroleum and Natural Gas Murli Deora said that the Union Government has been watching trends in global crude oil prices, ruling out possibility of immediate hike in petroleum products. He said: “The international crude oil prices have gone up. We are just now watching the situation.”

However, he added that a hike in petroleum prices is inevitable in the future, given the rise in international prices of crude oil. However, the quantum of hike will be decided after discussing the matter in the next cabinet meet. According to sources, prices may be increased by Rs 2-5 per liter for petrol and Rs 2 for diesel.

Meanwhile, Mr. Deora and his deputy, Jitin Prasad, held a meeting with Goa Chief Minister Digambar Kamat and top bureaucrats of the state, ensuring every possible help by center to the state. The state expressed its gratitude to the center for extending the Dabol-Bangalore gas pipeline to Goa. The project, with additional distance of 400km, would likely be completed by the first quarter of 2012.

Goa Chief Minister, Mr. Kamat said: “It is dream materialized for us. This will not only resolve our industrial fuel problem but also ensure gas connections to households.”