Petrol, diesel prices to go down? Here's what Union Minister Hardeep Singh Puri said
Union Minister Hardeep Singh Puri broached the possibility of a dip in petrol and diesel prices, adding that the government has ensured no rise in prices since April 2022.
PremiumUnion Minister Hardeep Singh Puri broached the possibility of a dip in petrol and diesel prices on Saturday. Addressing a press conference at the BJP headquarters the senior politician also noted that the Narendra Modi-led government had ensured that there is no rise in oil prices since April 2022. Puri however said that he was not in a position to make an announcement on the issue at this time, calling for a wait and watch approach.
The minister said that state-run oil marketing companies had done "okay" in the last quarter. As he explained, oil companies would be in a position to look at the issue if international crude cost remains stable and these firms have a good next quarter.
“As we go along we will see what can be done. They have recovered some of their losses. They have been very good corporate citizens. As we go along we will see what can be done," he said.
ALSO READ: Oil posts second weekly decline; what's overweighing Saudi output cut?
Puri said that pricing was a dynamic issue, highlighting welfare measures taken during the past nine years. He asserted that the non-BJP state governments were the most vocal about petroleum prices - even when they sell petrol and diesel at higher prices than BJP governments by not reducing VAT.
Petrol and diesel prices continued to remain above the ₹100 per litre mark in several key cities on Saturday. According to the latest revisions, petrol is retailing for ₹96.72 in New Delhi, for ₹106.03 in Kolkata, for ₹106.31 in Mumbai and for ₹102.80 in Chennai.
(With inputs from agencies)
"Exciting news! Mint is now on WhatsApp Channels 🚀 Subscribe today by clicking the link and stay updated with the latest financial insights!" Click here!
