Panaji (PTI): Union Minister of Petroleum and Natural Gas Murli Deora on Saturday said that the Government is monitoring the international crude oil prices before deciding on the petroleum product price hike.

"Unfortunately, the prices of crude oil have gone up recently. We are just watching the situation. We are concerned about the hike in the crude oil prices," Mr Deora told reporters here.

"We have to wait a little more to see whether they (international prices) stabilise. We can think something only when volatility is reduced. That's why we have not taken any decision," the minister said.

Mr Deora is in Goa along with his deputy Jitin Prasada and other ministry officials to participate in the oil companies' conclave.

He met Goa Chief Minister Digamber Kamat and state government officials and discussed state-specific issues.