Forex

Government will review fuel pricing scenario in October, Petroleum Secretary M S Srinivasan said on Thursday.

"At the time of Cabinet decision in June (on oil price hike) we agreed that we will take stock of situation in October. We do not expect any price revision between now and October," he said on the sidelines of the World Petroleum Congress in Madrid.

The Petroleum Secretary further said, "Situation will be revisited in October when we will take stock of the scenario emerging out of international oil prices."

Global crude prices touched a record USD 145 a barrel, which is expected to push India's oil import bill this year higher by nearly 76 per cent to USD 110-120 billion.