Petroleum Minister Puri Rules Out Fuel Price Cuts, Prioritizes Energy Stability Amid Crude Volatility

Union Minister of Petroleum and Natural Gas, Hardeep Singh Puri, clarified that discussions on reducing fuel prices are not underway, emphasizing the government’s commitment to ensuring energy availability amidst heightened volatility in crude oil markets.

With Brent crude prices hovering around $75 per barrel, reflecting a significant decline attributed to concerns over demand, Minister Puri underscored the government’s focus on energy stability. He noted that while oil marketing companies (OMCs) reported profits in recent quarters, refiners faced substantial losses during periods of surging prices.