India Oil Minister expects fuel prices to fall soon
Oil Minister Hardeep Singh Puri stated that energy prices are expected to decline as global supply stabilizes despite ongoing regional conflict. India currently maintains reserves for up to 80 days and anticipates increased output from Western suppliers to offset current market shortages.
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India Oil Minister Hardeep Singh Puri expects domestic fuel prices to drop in coming months as global supply chains stabilize. Global oil prices surged 40% to trade near $100 per barrel following conflict-driven shipping restrictions in the Strait of Hormuz. India maintains oil and gas reserves to last 76 to 80 days to manage supply volatility.
