(Reuters) - Indian fuel retailers could consider cutting petrol and diesel prices in the next quarter if the global situation remains stable, oil minister Hardeep Singh Puri told broadcaster NDTV.
He was responding to a question on whether consumers will benefit from stable oil prices.
Meanwhile, oil was seen swinging between gains and losses on Tuesday due to China's gradual roll-out of measures to support its economy.
Preliminary industry data released recently showed that petrol and diesel sales declined in the first half of June. While diesel demand fell 6.7 percent to 3.4 million tonne in June 1-15 compared to the year-ago period, petrol sales dipped 5.7 percent to 1.3 million tonne during the first half compared to the year-ago period.
India’s growing dependence on oil imports in past seven years
First Published: 20 Jun 2023, 06:37 PM IST