Saturday, May 21 2005 18:17 Hrs (IST) - World Time -

New Delhi: Admitting oil prices are the single biggest worry for him, Finance Minister P Chidambaram has hinted at revision in petroleum prices saying consumers too would have to share the burden.

"We are looking for ways to distribute burden (of surging global oil prices) between Government, oil marketing companies and refineries. But sometimes circumstances are out of our control," Chidambaram told private news channels.

Stating that no Government would like to hike petroleum prices, he said raising prices depends on factors, which were beyond Government's control.

"When we think that it (oil prices) has cooled off, suddenly it shoots up. Oil prices are the single biggest worry that is looming in the horizon but we have to be very careful about external factors," the Finance Minister said.

Meanwhile, Petroleum Ministry is understood to have sent an official note to Prime Minister's Office seeking 12 per cent hike in diesel prices, which is expected to push up diesel prices by Rs 3.75 per litre.

Petrol, on the other hand, is proposed to be hiked by Rs 2.60 per litre.

Chidambaram has been holding talks with Petroleum Minister Mani Shankar Aiyar as well as senior Left party members.