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Petrol-Diesel Prices May Fall: No Cap on Private Fuel Sales, Says Petroleum Minister.
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CNBC Awaaz•02-10-2026, 16:59
Petrol-Diesel Prices May Fall: No Cap on Private Fuel Sales, Says Petroleum Minister.
- •Petroleum Minister Hardeep Singh Puri expressed hope for relief in petrol and diesel prices amidst falling crude oil prices.
- •The central government has cut excise duty on petrol and diesel three times: November 2021, May 2022, and March 10, 2026.
- •The government has guaranteed the purchase of Compressed Biogas (CBG) under the GOBARDHAN scheme, expecting increased CBG production.
- •With Brent crude prices at $95 per barrel, petrol-diesel prices are expected to become cheaper.
- •The Petroleum Secretary clarified there are no restrictions on fuel sales by private companies, and the government is also focused on LPG subsidy.
Key Questions Answered
Petroleum and Natural Gas Minister Hardeep Singh Puri stated on October 1, 2026, that there is hope for relief in petrol and diesel prices as crude oil prices fall. He noted that Brent crude prices have dropped to $95 per barrel and expressed optimism that prices will come down.
The central government has cut excise duty on petrol and diesel three times: in November 2021, May 2022, and March 10, 2026. The most recent reduction lowered the excise duty on both fuels by ₹10 per liter.
The Petroleum Secretary clarified that there are no restrictions or caps on fuel sales by private companies. No entity is permitted to restrict sales, and official letters regarding this policy have also been issued previously.
