New Delhi, May 25: Petroleum minister S. Jaipal Reddy today said the Centre would wait for a few days to keep a watch on rupee volatility before deciding about petrol price.
"We want to know about the stable trend. We have decided to keep a watch for just a few days. When I say few days, I mean few days, not weeks", said Reddy.
The Oil minister said, 'all political parties including my party (Congress) are opposed to the petrol price hike, but we can't run the country on the basis of only popular sentiments'.
Describing the currency volatility as a global issue, Reddy said: "You can't find instant solutions to such problems. We are duly concerned over the sense of distrubance among consumers and all other sections of society. We can't remain indifferent to your feelings."
"But, at this point, we can't take a definite view because there's lot of volatility in the value of rupee crude oil prices", he added.
On suggestions to reduce tax and duties on petrol, Reddy said, lots of people have suggested that the Centre and the states should reduce taxes on petrol.
"I am not saying they are unworthy suggestions, but the fact is, the Government of India and the state governments together arrived at some formula. On the issue of petrol, I think, all parties should work together.
