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Asked if petrol and diesel prices would be raised on October 15, the next due date for auto fuel price revision, Aiyar said: "Only God knows and the prime minister know."
The government is unlikely to hike prices of petrol and diesel at the next revision due on August 31 despite the surge in crude oil prices.
Public sector oil firms spent over Rs 800 crore (Rs 8 billion) on advertisements during the last three years with Indian Oil Corp topping the list with an expenditure of Rs 275.35 crore.
The government on Thursday ruled out any rollback in hike in prices of petrol and diesel, saying a number of steps had been taken to contain the burden of increase on consumers.\n\n
Indian Oil Corporation, the country's largest fuel retailing firm, has demanded a hike in security deposit on cooking gas LPG cylinders to Rs 900 in view of the spurt in steel prices.
The government is yet to make up its mind on increasing auto fuel prices and more consultations are likely before a decision is taken on the issue in step with the surge in international crude oil prices.
Petrol and diesel prices will go by Rs 2.50 and Rs 2 per litre respectively.
India on Monday sought fuel from Qatar to restart the $2.9-billion Dabhol power project in Maharashtra.
The government will look into the issue of revising the petrol and diesel prices in view of the steep increase in international crude oil prices, the new Minister for Petroleum and Natural Gas Mani Shankar Aiyar said on Monday.
Public sector oil firms plan to set up over 4600 petrol stations and 907 LPG sale agencies in the current fiscal, Petroleum Minister Mani Shankar Aiyar said on Thursday.
India are once again at the crossroads, with the team again searching for middle order options ahead of the World Cup.
Petroleum Minister Mani Shankar Aiyar will visit Pakistan in May to boost bilateral energy ties and discuss the $4.16 billion Iran-India gas pipeline project.
Celebrating the Thalaiva's birthday.
State-owned Oil and Natural Gas Corporation, the latest entrant in auto fuel retailing, plans to set up 15 petrol stations in Karnataka and Gujarat in the current year.
Opposition members said the former finance minister had misled the Lok Sabha on the Calcutta Stock Exchange payment crisis and the UTI fiasco.
The government may not revise petrol and diesel prices on April 1 as Petroleum Minister Mani Shankar Aiyar, who has piloted a note on the issue for discussion in the Cabinet, will be out of the country at the next due date for revision in fuel prices
The government has allowed ONGC Videsh, the foreign arm of state-owned Oil and Natural Gas Corp, to make investments of up to Rs 300 crore (Rs 3 billion) in oil and gas properties abroad without going to the Cabinet for approval.
India on Wednesday threatened to pull out of the proposed $4.16 billion Iran-India pipeline project over price of natural gas saying Tehran has to price the fuel at rates affordable to industry in India.
The government is likely to give public sector oil firms limited autonomy to fix petrol and diesel prices within a narrow price band once international markets stablise, Oil Minister Mani Shankar Aiyar said on Monday.
Petroleum Minister Mani Shankar Aiyar on Monday hoped that international crude oil prices will ease in the near future and said India was in a comfortable position to sustain prices at around $50 a barrel.
International crude oil prices may have eased but the government has no immediate plans to pass on the benefit to the consumers, as it wants to wait for the prices to stabilise further.
Srinivas Bhogle and Purnendu Maji present Rediff.com's Most Valuable Player of IPL 2023.
Iran has changed its pricing formulae for liquefied natural gas sale to India and is demanding 28 cents more per million British thermal unit (mBtu).
The government on Tuesday put 20 oil and gas exploration blocks for bidding under the fifth round of New Exploration Licensing Policy.
The incident took place in the business class of the Air India flight from New York to Delhi on November 26 last year.
Petroleum Minister Mani Shankar Aiyar will visit Tehran early next week to salvage the LNG-for-oil field deal, which hit an obstacle after Iran sought a very high price for liquefied natural gas it plans to sell to India.
Petroleum Minister Mani Shankar Aiyar will visit Dhaka and Yangon in January to explore the possibility of laying a natural gas pipeline from Myanmar to India via Bangladesh.
The Allahabad high court on Thursday allowed the Archaeological Survey of India (ASI) to conduct a scientific survey at the Gyanvapi premises in Varanasi to determine whether the 17th-century mosque has been constructed over a pre-existing structure of a Hindu temple.
A Bill to put in place a regulator for the oil sector will be placed before the Cabinet for approval this month and presented to Parliament during the winter session, Petroleum Minister Mani Shankar Aiyar said.
The cabinet committee on economic affairs will meet this evening to decide on the prices of petrol, diesel, LPG and kerosene, petroleum minister Mani Shankar Aiyar said.
Public sector oil companies have demanded a Rs 1.60 per litre increase in diesel price and Rs 0.65 per litre hike in petrol prices in step with the surge in international oil prices.
The government may cut customs duty on petrol and diesel by 5 per cent each to avoid increasing prices that had been necessitated due to a spurt in international oil prices.
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