Petrol-Diesel Price: Petrol prices will be cut or prices will increase! Hardeep Singh Puri gave big hints, know

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Petrol-Diesel Price: Many people are worried about inflation in India. The increased prices of petrol and diesel are making everyone’s pocket lighter. In such a situation, Petroleum Minister Hardeep Singh Puri gave such a statement on Sunday, which can make your worry lines bigger. Petroleum Minister Hardeep Singh Puri said on Sunday that petrol prices are not expected to be cut anytime soon considering the past losses of public sector oil companies.

Companies had to bear a lot of loss

It is being told that the three public sector oil marketing companies – IOC, BPCL and HPCL have not changed the cost of petrol and diesel for the last 15 months. These companies have suffered a lot due to not increasing the prices commensurate with the cost. Although the pressure on the companies has reduced due to falling international crude oil prices in the last few months, but they have not made any cut in the prices of petrol and diesel to make up for the previous losses.

‘Prices should come down once the losses are recovered’

Participating in an event here, Puri said, “I hope the prices should come down once the losses are recovered.” He said that despite the jump in the price of crude oil after the start of Russia-Ukraine war, the oil companies behaved responsibly and did not increase the retail prices. “We didn’t ask them to keep the prices stable. They took that decision on their own,” he said.

Buying crude oil at a higher price increased their cost

However, buying crude oil at a higher price increased their cost. At the end of June 2022, he was incurring a loss of Rs 17.4 per liter of petrol and Rs 27.2 per liter on diesel. Indian Oil Corporation (IOC), Bharat Petroleum Corporation Limited (BPCL) and Hindustan Petroleum Corporation Limited (HPCL) last revised the prices of petrol and diesel on April 6, 2022.

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