"You know there is election code of conduct... We will take the right decision at the right time," Oil Minister Dharmendra Pradhan said.
Diesel is a government controlled commodity on which oil companies started to make maiden profit only last month. But since election code of conduct had come into place, a cut in prices necessitated by the sharp drop in oil prices was put off.
Petrol price cut; diesel rate to wait for PM's return
Diesel rate likely to be cut by Re 1/litre, petrol by Rs 1.75
Gas price likely to be hiked by 50%
Oil cos hold 35 paisa cut in diesel, 55 paise hike in petrol