Under PM Modi ji’s Leadership, The Prices of petrol and diesel are more affordable than before

Mar 26,2024

In a recent conversation with NDTV,  Union Minister Shri Hardeep Singh Puri highlighted how PM Modi has ensured the lowest energy prices globally while also ensuring unprecedented financial performance of our PSUs. It's crucial to understand that Oil Marketing Companies (OMCs) operate with a business mindset, not as philanthropic entities. They are accountable to their shareholders and require board approval for major decisions. Despite these constraints, OMCs have shown remarkable restraint and strategic acumen. During periods of under-recovery, they refrained from hiking prices. Now, they've taken a commendable step by reducing fuel prices by two rupees. This reduction, coupled with our efforts in diversifying supply sources and previous excise cuts, has led to a scenario where petrol and diesel prices are more affordable than before. It's a testament to our commitment to balancing commercial performance with public welfare.