Union Petroleum and Natural Gas Minister Hardeep Singh Puri has indicated that petrol and diesel prices in India may soften in the coming period as lower-cost crude oil, recently procured by oil companies, begins reaching domestic refineries. He noted that while global crude markets have been volatile, recent purchases at comparatively cheaper rates could help ease pressure on retail fuel prices once fully reflected in the supply chain.
He also emphasized that domestic fuel prices have remained broadly stable despite fluctuations in international oil markets and geopolitical tensions affecting global energy supply. According to the minister, the current pricing environment reflects delayed pass-through effects, and any reduction in crude costs is expected to take time before reaching consumers at the retail level.
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