Oil companies can cut prices if crude cost remains stable, says Petroleum minister Hardeep Singh Puri

NEW DELHI: Petroleum minister Hardeep Singh Puri on Saturday said oil companies will be in a position to look at the issue of reducing prices of petrol and diesel if the international crude cost remains stable and they have a good next quarter. He, however, also said he is not in a position to make an announcement on the issue.

“As we go along we will see what can be done,” he said at a press conference when asked if bringing down fuel prices is on the government’s agenda. He said state-run oil marketing companies did “okay” in the last quarter. “They have recovered some of their losses. As we go along we will see what can be done,” he said.

The government has ensured that there has been no increase in oil prices since April 22, he added.