Fuel Prices To Be Reviewed Based On Crude Oil Supply: Suresh Gopi

Union Minister of State for Petroleum and Natural Gas Suresh Gopi on Sunday stated that fuel prices will be reviewed based on the availability of crude oil supplies.

His remarks came in response to questions from reporters regarding a possible revision in petrol, diesel, and LPG prices.

Gopi said that any decision on price changes would depend on an assessment of crude oil supply conditions.

“Let us see the supply of crude oil. We have the minister concerned, Hardeep Singh Puri. Let it come,” he said, indicating that the final call rests with the Petroleum Ministry.

When asked further about the issue, he questioned whether the media had a supervisory role over government decision-making.

Fuel prices, including petrol, diesel, and LPG, have seen increases in recent weeks, raising concerns among consumers.

The price rise has been attributed largely to disruptions in global crude oil and natural gas supplies, triggered by the ongoing conflict in West Asia.

The geopolitical tensions have tightened global energy markets, affecting supply chains and pushing up input costs for importing countries like India. As India relies heavily on imported crude oil, fluctuations in international supply directly impact domestic fuel pricing decisions.

Officials have indicated that pricing adjustments will continue to be closely linked to global crude trends and supply stability.

The government is monitoring the situation as volatility in global energy markets persists due to the ongoing conflict.

At present, no specific timeline has been announced for a review or rollback of recent fuel price increases.

The Ministry of Petroleum and Natural Gas is expected to take a calibrated approach, balancing global market conditions with domestic inflation concerns and consumer impact.

The statement underscores the government’s cautious stance on fuel pricing, especially during periods of geopolitical uncertainty and fluctuating crude oil availability.