"It is true that margins on petrol and diesel have turned positive but there are still huge under recoveries on kerosene and LPG," Petroleum Secretary R S Pandey told the Economic Editors Conference in New Delhi.

He said fuel retailers -- IOC, BPCL and HPCL – were making a profit of Rs 8.17 a litre on petrol and Rs 0.65 per litre on diesel, but were losing Rs 21.54 a litre on kerosene and Rs 330.28 per LPG cylinder.

"Overall, there still are under recoveries," he said. Besides, the three companies in the first half of the current fiscal posted a net loss of Rs 14,431 crore. They will end this year with about Rs 1,10,000 crore revenue loss on fuel sales.

"Therefore, whenever government has to take a view, all these issues will have to be considered. No decision has yet been taken, but we are going to the appropriate committee of the Cabinet within a comprehensive picture for a appropriate decision," he said.

Pandey added Petroleum Minister Murli Deora had stated that a revision in fuel prices was under consideration and a decision will be taken in due course.

"Revision does not necessarily mean a cut in prices. We will have to wait on which products a reduction will be effected, by how much and when," Pandey said.

"Government will have to take a comprehensive view... What government will decide we cannot anticipate today," Pandey added.

When asked if Deora has written a letter to UPA Chairperson Sonia Gandhi on scope for cutting petrol price by Rs 5 a litre and LPG by Rs 20 per cylinder, Deora said, "I have no reply to this question. What I have written to some one or not is not under discussion."