NEW DELHI: Petroleum minister Hardeep Singh Puri on Friday hinted at a possible reduction in fuel prices in the country if the oil marketing companies (OMCs) turned out to be in profit in the fourth quarter.
The minister, speaking on the sidelines of UN Global Compact Network India’s (UNGCNI’s) 18th National Convention, also mentioned that OMCs have recovered from the past losses and could see profits in the upcoming quarter. “If you ask them (oil companies), they would say their profit has come down… but they have recovered. I am hoping that if the fourth quarter is good, then we can (cut price),” said Puri.
