Centre Hints At Possible Reduction In Petrol, Diesel Prices If International Situation Remains Stable

Amid decline in global crude oil prices, Petrol and diesel prices are likely to be reduced in the next quarter if the international trends continue.

Union Petroleum and Natural Gas Minister Hardeep Singh Puri said in an interview with NDTV that 80-85 per cent of the crude oil used in the country is imported.

The minister acknowledged that the oil marketing companies have been good corporate citizens and have borne losses for a long time. He added that their situation is improving now.