The Centre has indicated that any decision regarding a reduction in petrol and diesel prices will be guided by developments in the international energy market and the broader geopolitical situation.
Responding to questions on the possibility of lower fuel prices, the Ministry of Petroleum and Natural Gas said that domestic pricing policies would continue to be aligned with changes in global crude oil markets. Officials stressed that fluctuations in international oil prices, supply chains, and geopolitical uncertainties are being closely monitored before taking any decision.
Union Minister of State for Petroleum and Natural Gas Suresh Gopi stated that although crude oil prices have shown signs of easing, the impact on retail fuel prices in India is not immediate. He explained that crude oil purchased at earlier prices takes time to reach refineries and enter the supply chain, which delays the effect of international price movements on consumers.
The government also highlighted that it has already absorbed a substantial financial burden to shield consumers from sharp spikes in global energy prices. State-run oil marketing companies have been facing pressure due to under-recoveries while maintaining stable supplies across the country.
Officials maintained that India remains well-prepared to manage any disruption arising from developments in West Asia, adding that fuel availability in the country remains comfortable. The Ministry noted that the majority of India’s crude oil imports are sourced from regions outside the Strait of Hormuz, reducing the risk of supply shortages.
Industry experts believe that if international crude prices continue to soften and geopolitical tensions ease, there could be room for lower fuel prices in the coming months. However, they cautioned that any revision would depend on the sustainability of global trends and the financial position of oil marketing companies.
