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Policy● Neutral for Indian equities
Petrol, diesel prices may ease; No cap on private fuel sales: Petroleum Minister
The brief
- Hardeep Singh Puri said fuel prices may come down as Brent crude falls to $95
- The Petroleum Secretary said there is no cap on private fuel sales
- Lower crude and retail fuel prices could benefit Indian consumers and fuel retailers, while affecting oil-marketing margins
- India imports 50% of gas needs, targets 10X CBG output: Hardeep Singh Puri
- No global oil shortage, supply route disruptions driving crude prices, oil minister says
- Energy-related anxiety is not over yet: Petroleum minister Hardeep Puri
- Government will not let things go out of control, says Petroleum Minister Hardeep Singh Puri
- India has more than 80 days fuel reserves: Hardeep Singh Puri
Private fuel retailers’ sales rationing
Jio-BP and Nayara capped diesel sales at select pumps as crude prices surged and squeezed margins; industrial buyers shifted to retail outlets amid global diesel supply disruptions. On 1 October, Petroleum Minister Hardeep Singh Puri said prices may ease as Brent fell to $95, while officials said private retailers should not ration sales.
Thursday, 1 October
- Petrol, diesel prices may ease; No cap on private fuel sales: Petroleum Minister