By IANS
New Delhi : The government has not taken any decision to hike prices of transport fuels but will soon hold talks with oil companies on how to tackle the crisis triggered by high global crude prices, Petroleum Minister Murli Deora said Wednesday.
"We really do not want to hike the petroleum prices. But we are helpless when the international price increase like this," Deora told IANS on the sidelines of a function, where Prime Minister Manmohan Singh released a study entitled 'The Indian CEO: A Portrait of Excellence.'
The petroleum minister was referring to international prices of crude hitting the $78 per barrel in recent weeks.
Denying reports that the fuel price might be hiked after Thursday's presidential election, Deora said: "The government has not taken a decision yet. But we will be discussing the issue with the oil companies on how to tackle the crisis."
Media reports have been speculating that the government has been contemplating an increase of Rs.2-2.50 a litre in petrol ad Rs.1-1.50 a litre in diesel in a bid to check the mounting losses of state-owned oil marketing companies.