New Delhi: Global crude oil prices may be cooling after easing tensions in West Asia and reports of an Iran-US peace understanding, but Indian consumers should not expect petrol and diesel prices to drop anytime soon. The Centre has made it clear that cheaper crude does not automatically mean cheaper fuel at the pump.
Speaking on the issue, Petroleum Ministry Joint Secretary Sujata Sharma said retail fuel prices cannot be revised immediately every time international crude prices fluctuate. She noted that several market factors, including procurement costs, inventories, taxes, and pricing mechanisms, influence domestic fuel rates.
The clarification comes amid growing public frustration as motorists expected fuel prices to fall after crude oil retreated from recent highs. With oil supply routes stabilizing and global markets reacting positively, consumers were hoping for quick relief from rising transportation and living costs.
For now, however, the government's message is clear: falling global oil prices alone are not enough to trigger an immediate cut in petrol and diesel rates. Millions of consumers may have to wait longer before any reduction reaches fuel stations across the country.
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