Oil Minister Hardeep Puri Says Fuel Prices Expected to Drop in Coming Months
By Arjun Nair
Published June 9, 2026
Fuel prices have risen over Rs 7 per litre from mid May, owing to disruptions in the petroleum supply and rising crude oil cost.
According to some reports, Union Petroleum and Natural Gas Minister Hardeep Singh Puri has stated that fuel prices are expected to fall very shortly.
In a recent interview with CNN-News18, Puri said that oil prices are not expected to stay at current levels and might decline in the upcoming months. He has also warned that the situation could become problematic if tensions escalate further in the Gulf region.
Also Read - Flex Fuel In India: Fuel Grades, Sources, Engine Effects And Launch Date
Fuel prices were initially hiked on May 15, with further price revisions expected by the end of May. Together, the four hikes since mid-May have raised petrol and diesel prices by over Rs 7 per litre. Petrol price has now gone up by 7.8 percent, while diesel has increased by 8.6 percent.
The rises are a result of supply disruptions due to the conflict involving Iran, impacting shipments via the Strait of Hormuz, one of the primary energy trade routes globally.
Also Read - Hero To Introduce Flex Fuel Across Its Entire Lineup Within Next Two Years
As stated by Puri, India is likely to have reserves that can last between 76 to 80 days and also expects the suppliers from Canada, United States, and other western regions to help with the fuel supply shortages.
Meanwhile, the crude oil prices have gone up steadily, it now costs nearly USD 100 per barrel.
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