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Fuel prices may fall next quarter if global crude remains stable
The New Indian Express Mangaluru
|July 18, 2025
PETROLEUM minister Hardeep Singh Puri on Wednesday said oil marketing companies (OMCs) may reduce petrol and diesel prices in the next quarter if global crude oil prices remain around $65 per barrel.
Speaking at the Urja Varta 2025 event organised by the Directorate General of Hydrocarbons, the minister said If things remain stable (crude price), there is a scope for reduction.
"We are one of the few countries in the world where prices have come down over the last three-and-a-half years. Now, the inventory I'm holding was bought at $75 a barrel, a month ago. As this inventory gets consumed slowly, if prices remain at current levels, my short answer is yes," said the minister.
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