"Unfortunately, it was not on (the) agenda," Petroleum Minister Murli Deora said in New Delhi.

With state-owned oil firms earning a profit of Rs 3.26 a litre, a reduction in retail rates is, however, on the cards as the last pre-poll sop that would help bring down inflation further.

Deora refused to say if a meeting of the Cabinet Committee on Political Affairs, which usually deliberates on fuel price revision, was slated for this evening or on Friday.

Petroleum Secretary R S Pandey said: "I have not been informed of any meeting till now."

"I am not aware of any move to reduce prices yet. There is no proposal yet before me," he said but refused to completely rule out a price reduction.