Government says that the prices of petroleum products are not being revised in the near future. The Petroleum Minister Mr Murli Deora revealed this after a meeting with Finance Minister Mr Pranab Mukherje in New Delhi today. The meeting was held amidst speculation on hike in the prices of petroleum products. Mr Deora held discussions with the Prime Minister on the issue last evening as the Oil marketing companies have accumulated over 44 thousand crore rupees as under recoveries.The Petroleum Secretary R S Pandey said that the Finance Minister was briefed on the revenue losses being incurred by the oil companies. AIR correspondent reports, that the compensation to meet the huge under recoveries to the oil companies may be made in cash.Though it is welcome news for the common man that oil prices have been put on hold, but in the long run it is important to devise a mechanism for regulating its prices . This is important as the under recoveries of the oil marketing companies are growing alarmingly and may put them at some point in time in trouble. With a slew of measures taken to address the issue of price rise as the government is facing heat on this count , any revision in oil prices is a distant reality for now.