New Delhi. There can be relief in the prices of petrol and diesel before the budget. This was indicated by Petroleum Minister Hardeep Singh Puri on Sunday. Hardeep Puri told the petroleum companies that if they are not facing losses now, they should benefit the public by reducing the prices of petroleum products. Hardeep Puri said that the prices of crude oil have come down. In such a situation, petroleum companies can provide relief to the common people. Petroleum companies have kept the prices of petrol and diesel stable since April last year.
I request the oil companies that If the international oil prices are in control & under-recovery of their companies have stopped then reduce the oil prices in India also: Hardeep Singh Puri, Petroleum Minister pic.twitter.com/ILyIHcPg4a
— ANI (@ANI) January 22, 2023
Petroleum Minister Hardeep Puri also said that there was an increase in the prices of crude oil internationally, but we did not allow the oil prices to increase much. The Center had reduced excise duty in November 2021 and May 2022, but some state governments did not reduce VAT. The price of petrol and diesel is still very high in these states. In fact, the price of crude oil had crossed $130 per barrel. Due to this, the petroleum companies were incurring huge losses. Now crude oil is being sold below the price of $80 per barrel. Due to this, petroleum companies are getting profit of Rs. 10 per liter on petrol. However, the companies are still incurring a loss of Rs 6.50 per liter on the sale of diesel.
The Petroleum Minister may have asked the oil companies to reduce the prices of petrol and diesel, but immediate action is not visible. Actually, petroleum companies are bridging their old losses. For this reason, they have maintained the prices applicable from April 2022 even after the crude oil became cheaper. It is believed that after the statement of the Petroleum Minister, there can be some reduction in the prices of petrol and diesel before the budget comes on February 1.