New Delhi: The Union Ministry of Petroleum and Natural Gas has indicated that it is difficult to predict when petrol and diesel prices could be increased again, citing losses faced by oil companies amid the situation in West Asia.
After crude oil prices surged due to the conflict in West Asia, oil marketing companies reportedly struggled to absorb the impact. Petrol and diesel prices were raised across the country on May 15, with petrol up by Rs 3.14 per litre and diesel by Rs 3.11 per litre.
Amid speculation of another hike, Joint Secretary Sujatha Sharma held discussions in Delhi on the evolving West Asia situation. Speaking to reporters later, she said government-owned oil companies continue to face financial stress, making it hard to forecast the timing of any further revision in fuel prices.
She added that India has adequate crude oil stocks and urged the public not to panic. With supplies of essential fuels continuing smoothly, she said there was no need for unnecessary fear among LPG cylinder distributors, retail dealers and consumers.
The Centre, she said, is taking steps to ensure uninterrupted fuel supply nationwide, while also suggesting that adopting alternative cooking methods such as electric stoves could be beneficial.
