Step 1: Analyze the statement.
The statement indicates that the Government will review the policy, but does not specify any particular outcome. The review may lead to either an increase or no increase in the price of diesel based on the situation.
Step 2: Evaluate the conclusions.
(I) It is possible that the Government may decide to increase the diesel price after the review, so this conclusion could follow.
(II) On the other hand, the Government may decide not to increase the price even after the spurt in international oil prices, so this conclusion could also follow.
Step 3: Final Answer
Since both conclusions are possible, the correct answer is (c) Either I or II follows.
Final Answer: The correct answer is (c) Either I or II follows.