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Crude oil price rise matter of concern: FM

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Press Trust Of India New Delhi
Last Updated : Feb 05 2013 | 1:51 AM IST
Finance Minister P Chidambaram today said the surge in international oil prices is a matter of grave concern and it was for the petroleum ministry to take a call on retail pricing of petroleum products.
 
"Yes, rising crude prices is a matter of grave concern... it is entirely for the Ministry of Petroleum to propose that (an increase in domestic fuel prices) and seek a view on this," he said.
 
Chidambaram was responding to a question if the rise in crude oil prices warranted an increase in petrol and diesel prices.
 
Crude oil prices have touched a record $78 a barrel this month and India imports more than 70 per cent its crude oil requirement.

 
 

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First Published: Aug 07 2007 | 12:00 AM IST

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