The Government will watch the situation for a few days before reviewing a steep hike in petrol prices, Union Petroleum Minister Jaipal Reddy said on Friday.
The Centre was conscious of the anger among the consumers after the petrol price announced by the national oil companies, Reddy said, but added that the decision was taken by the OMCs.
"Petrol is deregulated but during certain period oil marketing companies were not able to raise prices of petrol," Reddy told reporters in New Delhi.
"I am urging for a meeting of EGoM to decide on diesel, LPG and kerosene prices," Reddy said. "All parties need to work together on fuel price hike," he added.
He did not say when the EGoM meeting, due to have taken place on Friday, might happen.
Reddy admitted that the decision to hike the petrol prices by ~Rs 7.50 per litre was harsh and unpleasant but added that there was no need for rollback of the increased price of the petrol prices for now. "We at the Oil Ministry can't take any definitive view right now," he said.
"The situation can't be manipulated. We are duly conscious of the sense of disturbance among consumers," Reddy said.