The petroleum ministry on Wednesday said that it would soon approach the Cabinet for an ?appropriate? decision on fuel pricing even as oil firms continue to make hefty losses on sale of LPG and kerosene.

The margins on petrol and diesel have turned positive leading to demand from almost all political quarters that fuel prices be cut to reflect the softening in crude prices from $147 a barrel to about $ 50 currently.

?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 here.

Pandey said the ministry will present to the Cabinet a detailed picture of the emerging scenario and seek an ?appropriate? decision, he said.

Petroleum Minister Murli Deora on his part side stepped questions on Prime Minister’s categorical statements saying ?I have nothing to say…. Situations keep changing everyday?.

Pandey, however, acknowledged that the Rs 21.54 a litre loss on kerosene and Rs 330.28 per cylinder loss on LPG were the same even today as they were when Prime Minster on November 10 made that statement. Pandey 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. ?Overall, there are still 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 that Petroleum Minister Murli Deora had yesterday 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.?

Before the Editors’ Conference Pandey had stated that the minister had informed him that no letter had been written to Sonia Gandhi.