Brief by Shorts91 Newsdesk / 06:15pm on 02 Jul 2026,Thursday India
Union Petroleum Minister Hardeep Singh Puri said state-run oil marketing companies have suffered cumulative losses of around ₹74,781 crore due to selling petrol, diesel and LPG below market-linked prices in recent years. Despite these losses, he indicated that consumers could benefit from lower fuel prices if global crude oil rates remain subdued. Puri stressed that any reduction would depend on international market trends and the financial health of oil companies. The government continues to balance consumer interests with the need to ensure the long-term sustainability of public sector fuel retailers amid fluctuating global energy prices. (PC: X)
