Petroleum Minister Murli Deora today refused to commit if prices of petrol, diesel and cooking gas (LPG) would be cut, saying the international oil prices were volatile and unpredictable.
"I just cannot say that," he told reporters when asked if the government would consider a cut in retail fuel prices given the easing crude price movement.
Crude is trading near $ 70 a barrel, less than half of the $ 147 a barrel high it touched in July this year.
"What is happening (internationally) is unpredictable. Prices came down to 50 (dollar a barrel) and today have risen to 70 (dollar a barrel).
You cannot decide in such volatile atmosphere," Deora said.
The government raised fuel prices in June when oil started testing new peaks above $ 130 a barrel in the international market.
Petroleum Secretary R S Pandey said the Union Cabinet is unlikely today to discuss the fuel pricing matter.
