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Due to the high volatility of crude oil, Union Minister Hardeep Puri stated today that fuel prices will not be reduced anytime soon. Regarding media reports, Puri dismissed them as "speculative" and stated that there is no plan to lower fuel costs.
Due to the high volatility of crude oil, Union Minister Hardeep Puri stated today that fuel prices will not be reduced anytime soon. Regarding media reports, Puri dismissed them as “speculative” and stated that there is no plan to lower fuel costs. The BJP leader said that the government’s top priority is energy availability.
The minister claimed that as the price of crude oil increased, the oil marketing corporations suffered significant losses. Concerns about demand have caused a sharp decline in oil prices, with Brent crude now trading for $75 per barrel. Puri also said that they want a steady and forward-looking situation in terms of prices, so they are not discussing fuel price reductions with oil marketing companies.
In response to the recent truck driver protests against the new hit-and-run rule, he stated that OMCs maintained a steady supply of fuel despite the massive line-up at the gas stations. India will purchase oil from Venezuela, and Indian refineries are equipped to handle the heavy oil that comes from the nation of South Africa, Puri added.
