New Delhi: Terming the reports about the possible cut in prices of petrol and diesel as ‘speculative’ and ‘mischievous’, Union Minister of Petroleum and Natural Gas Hardeep Singh Puri on Wednesday said the government has no such proposal as the situation in international markets remained volatile.
“We are in a very turbulent situation right now with high volatility in crude prices. There has been no discussion with the oil marketing companies on price cuts,” Puri said at a media conference.
The minister’s comment led to a rally in share price of oil marketing companies. Hindustan Petroleum Corporation Limited surged 3.24% on the Bombay Stock Exchange. Indian Oil Corporation soared 1.8% while Bharat Petroleum Corporation rallied 1.07%.
