The Centre has decided to consult with State Governments to find a way to bring down the petrol prices which was increased two day ago. Briefing reporters in New Delhi, the Petroleum and Natural Gas Minister Mr Jaipal Reddy said that both the Centre and States should work on a formula to ease the burden of price of this commodity through reduction in their own taxes levied on it.

He said that the government is conscious of the prevailing disappointment of the consumers due to the price hike. He said, this is the global development and it is beyond our control. Mr Reddy said that the government has decided to watch prices of crude oil in the international market for few days before taking any definite view on any roll back.

When asked about the hike in other petroleum products like diesel, LPG and Kerosene in future, the Minister said that these products could not be revisited by his Ministry and only the Empower Group of Ministers, EGOM is competent to take the decision.