Prime Minister Manmohan Singh is contemplating a meeting of political leaders next month to find a way out of the crisis caused by galloping crude petroleum prices and growing subsidy to oil firms.
"The prime minister is thinking of having a meeting of all political leaders and it could take place in the second week of next month," sources in the government said.
While the agriculture scenario was comfortable spiralling crude oil prices in the international market was causing a concern, they said. Crude oil reached $96
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a barrel mark early this month. However, it has come a notch lower now.
Ruling out any plan to raise fuel prices in the immediate future, Petroleum Minister Murli Deora said on Tuesday the government will take a decision in this regard at an "appropriate time".
Deora said that to insulate the economy against volatility in global oil prices, "we are consulting colleagues in other ministries, including finance ministry, for an early workable solution to the problem".
