Petrol-Diesel Price Cut in 2024: When will the prices of petrol-diesel be reduced? Petroleum Minister broke his silence
Petrol-Diesel Price Cut in 2024: Today Petroleum Minister Hardeep Puri has given big information regarding the cut in fuel prices. For the last few days, many reports were claiming that the government can reduce the prices of petrol by up to Rs 10.
HR Mandi Bhav: Petrol-Diesel Price Cut: Before the Lok Sabha elections to be held in the country, many reports of reduction in the prices of Petrol-Diesel are coming out. This question is running in everyone's mind that when will the prices of petrol and diesel be cut? Now elections are also around the corner... In such a situation, people have high expectations from the government, but today Petroleum Minister Hardeep Puri has broken his silence on this matter.
Union Petroleum Minister Hardeep Puri said on Wednesday that there is no proposal to cut fuel prices. All the reports and talks going on in the media are just speculations. The government currently has no such plan.
No talks have been held with oil companies
Petroleum Minister Hardeep Singh Puri has said that there is a discussion going on in the market that the government can reduce the prices of petrol and diesel by up to Rs 10.
This news is completely a rumour. The government has no such idea. Along with this, he has also made it clear that till now no talks have been held with government oil companies regarding reduction in fuel prices.
Shares of oil companies rose
After this statement of Hardeep Singh Puri, there has been a rise in the shares of government oil companies. There is a rise in the share prices of oil marketing companies.
Today, the share of Hindustan Petroleum Corporation Limited (HPCL) is trading at the level of 421.75 with a gain of 3.19 percent. Apart from this, BPCL shares are trading with a rise of 1.25 percent and IOCL shares are trading with a rise of 2.14 percent.
Crude oil is becoming cheaper in the global market
If we talk about the international market, a big decline is being seen in the prices of crude oil. The price of Brent crude is trading at $ 75.65 per barrel. At the same time, WTI crude is trading around $70 per barrel. Despite the continuous decline in crude oil prices, oil prices remain the same in the domestic market.
Puri said this
Referring to the recent protests by truck drivers against the new hit-and-run law, Puri said despite huge rush at petrol pumps, oil marketing companies kept the fuel supply stable.
Puri said India will buy Venezuelan oil, adding that Indian refineries are capable of processing heavy oil from the South African country. Speaking to reporters at an event, Puri said New Delhi is ready to resume oil imports with any country that is not under the sanction.
Oil was last imported from Venezuela in 2020
The Petroleum Minister has said that we are in a situation where we are using 5 million barrels of crude oil per day and it is increasing every day. If Venezuelan oil comes into the market we will welcome it. India last imported crude oil from Venezuela in 2020.