Hardeep Singh Puri: gasoline and diesel prices not falling yet
Wondering if gasoline and diesel will get cheaper since global oil prices are dropping?
Union Minister Hardeep Singh Puri says not just yet: Current pump prices reflect what crude and shipping cost two months ago, when rates were higher.
He added, "If this continues, we will see."
Indian oil companies lost over ₹740B
Puri pointed out that oil companies lost over 740 billion rupees on fuel sales in the quarter ending June 2026 because of earlier price spikes linked to world events.
Still, India managed to avoid shortages by buying from different countries (even the US and Venezuela!) and using refineries already configured to handle all kinds of crude.
The government is also boosting storage and building stronger ties with energy suppliers to prepare for any future surprises.