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No cut in petrol and diesel prices now, says Union Minister Hardeep Singh Puri

Union Petroleum Minister Hardeep Singh Puri said there is no justification for reducing petrol and diesel prices at present, citing oil companies' under-recoveries of Rs 2.18 lakh crore and higher-cost fuel inventories despite stable retail prices and global crude volatility

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Union Petroleum Minister Hardeep Singh Puri (File pic)

Union Petroleum Minister Hardeep Singh Puri (File pic)

Consumers expecting a reduction in petrol and diesel prices may have to wait longer, as Union Petroleum and Natural Gas Minister Hardeep Singh Puri on Thursday said that there is no justification for lowering retail fuel prices at this stage. 

According to IANS, Union Minister Puri, while addressing the issue of fuel pricing, said that petrol and diesel prices have remained largely stable despite significant fluctuations in global crude oil markets.

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