Government will find solution to surge fuel prices: Union minister Pradhan

Vastavam web: Union petroleum minister Dharmendra Pradhan has said the increase in fuel prices was due to reduced production of oil in OPEC and hike in crude oil price in the international market.Noting that people, especially the middle-class, have to suffer due to price hike of oil, the minister said the government would try to work out a solution soon to deal with the situation.Stressing the need for stable and moderate oil prices, he said the surging fuel prices have negative impact on consumers and the Indian economy.

With global crude prices soaring, the minister has already pressed OPEC kingpin Saudi Arabia to keep prices stable and moderate, saying that spike in rates would have a negative impact on Indian consumers as well as on the economy.