Deora hints at fuel price hike

New Delhi, June 15(ANI): Union Petroleum Minister Murli Deora has expressed his concern over the rise in international crude oil prices and said that the government is looking at solutions to tackle the widening revenue deficit, hinting at a rise in petrol and diesel prices.

"We are seriously concerned about the rise in crude oil prices. We have to look for solutions," Deora told reporters after meeting Finance Minister Pranab Mukherjee with his budget wishlist.

"The alternatives before us are raising petrol and diesel prices, asking the government to make up for revenue loss through issuing oil bonds and upstream firms chipping in," Deora added.

Earlier, there were reports of a possible cut-down in petrol and diesel prices since the crude oil prices came down by $100 from the historic high of 147 dollars a barrel.

However, with the rates climbing again, there are doubts about prices being slashed.

Currently, international crude oil prices are ruling at 71-72 dollars a barrel, which is a seven-month high. (ANI)