VARANASI: Oil minister Hardeep Singh Puri on Sunday \u201crequested\u201d state-run oil companies to consider reducing fuel prices if international crude prices stabilise in the coming days and their losses were gone. \u201cI would request the oil companies (state-run fuel retailers) that in the coming days, if international oil prices remain under control and their under-recoveries were gone they could look at some (fuel) price reduction,\u201d Puri told reporters on Sunday.<\/p>\n
But it may be too soon to expect a cut as trade data indicates companies are making a profit of Rs 5 on a litre of petrol but still losing about Rs 13 on diesel.<\/p>\n
This is a marked improvement from the time when the losses had risen to Rs 17. 4 on a litre of petrol and Rs 27. 7 on diesel in June last year as oil and product prices spiked above $100 per barrel after Russia\u2019s invasion of Ukraine but pump prices remained unchanged.<\/p>\n","protected":false},"excerpt":{"rendered":"
VARANASI: Oil minister Hardeep Singh Puri on Sunday \u201crequested\u201d state-run oil companies to consider reducing fuel prices if international crude prices stabilise in the coming days and their losses were gone. \u201cI would request the oil companies (state-run fuel retailers) that in the coming days, if international oil prices remain under control and their under-recoveries were gone they could look at some (fuel) price reduction,\u201d Puri told reporters on Sunday. But it may be too soon to expect a cut as trade data indicates companies are making a profit of Rs 5 on a litre of petrol but still losing […]<\/p>\n","protected":false},"author":44,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[130,219,137],"tags":[],"class_list":["post-549248","post","type-post","status-publish","format-standard","hentry","category-newspapers","category-oil-gas-the-times-of-india","category-the-times-of-india"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/549248","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=549248"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/549248\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=549248"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=549248"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=549248"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}