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India may review oil prices after parliament session

An oil ministry source says a price revision in the retail fuel prices can take place if global prices remain high.

business Updated: Aug 07, 2007 15:55 IST

India may review retail fuel prices after the monsoon session of parliament ends in mid-September if global prices remain high, an oil ministry source told Reuters on Tuesday.

"No price hike is in the offing immediately," the source said.

"We have written to the finance ministry not recommending fuel price increase but seeking oil bonds. However, if the global crude oil prices remain high then a price revision could take place after the parliament session."