INSUBCONTINENT EXCLUSIVE:
Petroleum minister Hardeep Puri said decision on fuel prices to be taken keeping public interest in mindAmid speculations on petrol and
diesel prices likely to witness a steep hike owing to sky rocketing crude prices, Petroleum minister Hardeep Singh Puri on Tuesday said that
government will take a decision keeping in mind the interest of citizens."Oil prices are determined by global prices
There is a war-like situation in one part of the country
The oil companies will factor that in
We will take decisions in the best interest of our citizens," he said in a press conference.He further said that fuel prices were not
controlled because assembly elections were taking place in politically crucial states like Uttar Pradesh, Punjab, Uttarakhand and Goa as
will be no shortage of crude oil
We will make sure that our energy requirements are met, even though 85 per cent of our requirements are dependent on imports for crude oil
and 50-55 per cent on gas," Mr Puri said.Global crude oil prices continued to rise on Tuesday as Brent crude touched $126 per barrel amid
the ongoing Russia-Ukraine war.Petrol and diesel prices have been kept in abeyance since the past four months
Government had cut down excise duty on petrol and diesel by Rs 5 and Rs 10 respectively on November 4, 2021, after which prices across the
country had come down significantly.However despite rising crude oil prices owing to the conflict between Russia and Ukraine, fuel prices in
and the results are to be declared on March 10, therefore there are speculations that fuel prices may rise soon after.
