Petroleum Minister Hardeep Puri said the decision on fuel prices should be made in the public interest
Amid speculation about petrol and diesel prices likely to see a precipitous rise due to skyrocketing crude oil prices, Petroleum Minister Hardeep Singh Puri said on Tuesday the government will make a decision while respecting citizens’ interests. .
“Oil prices are determined by world prices. There is a war situation in part of the country. The oil companies will take that into account. We will make decisions in the interest of our citizens,” he said at a news conference. †
He went on to say that fuel prices were not monitored as parliamentary elections took place in politically crucial states such as Uttar Pradesh, Punjab, Uttarakhand and Goa.
“To say that the government had controlled oil prices as a result of elections is not correct… We will ensure that our energy needs are met,” Puri continued.
Oil prices are determined by world prices. There is a war situation in part of the country. The oil companies will take this into account. We will make decisions in the interest of our citizens: Hardeep Singh Puri, Union Minister of Petroleum and Natural Gas pic.twitter.com/1B6evFkJTl
— ANI (@ANI) March 8, 2022
Global crude oil prices continued to climb Tuesday as Brent crude reached $126 a barrel during the ongoing war between Russia and Ukraine.
Petrol and diesel prices have been suspended for the past four months. The government had cut the excise tax on petrol and diesel by Rs 5 and Rs 10 respectively on November 4, 2021, after which prices dropped significantly across the country.
Despite soaring crude oil prices due to the conflict between Russia and Ukraine, fuel prices in the country have remained unchanged so far.
Assembly elections in four states, including Uttar Pradesh and Punjab, have recently concluded and the results are set to be announced on March 10, which is why there are speculations that fuel prices could rise soon after.
