Union Petroleum Minister Hardeep Singh Puri clarified that despite global crude prices dropping to $70 per barrel, immediate reductions in petrol and diesel prices are unlikely.
Global crude oil prices have fallen to $70
Jul 03, 2026
09:57 am
What's the storyUnion Petroleum Minister Hardeep Singh Puri has said that consumers shouldn't expect an immediate reduction in petrol and diesel prices even as global crude oil prices have fallen to around $70 a barrel.
He said that any reduction would take two to three months since oil companies are still selling fuel refined from more expensive crude purchased during the peak of the West Asia conflict.
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