New Delhi, July 2 -- Union petroleum and natural gas minister Hardeep Singh Puri on Thursday indicated that state-run oil marketing companies (OMCs) could review petrol and diesel prices in the next two to three months if international crude prices remain subdued and stable at current levels.

Addressing a press briefing, Puri said OMCs had absorbed much of the surge in global crude prices driven by the conflict in West Asia instead of passing the full burden on to consumers, limiting the increase in retail fuel prices.

"If the question is, when will you break prices down? Well, they (OMCs) are still carrying the stock which was bought at a higher price with higher insurance, higher freight rates. If this (low crude prices) persists next...