Petroleum Ministry to Meet Oil Companies to Decide on Oil Prices

Union Minister of State for Petroleum and Natural Gas Rameswar Teli on Tuesday said that oil companies are yet to meet to decide on the fuel prices.

Teli’s statement comes amid concerns raised owing to speculations regarding rise in crude prices due to the ongoing Russia-Ukraine crisis.

As quoted by ANI, Rameswar Teli said, “Petroleum ministry after meeting with oil companies will decide the rate of oil. The meeting is yet to take place. People are aware that oil prices are high in the international market. The prices are increasing also due to the ongoing war between the two countries.”

Teli said that the meeting with the oil companies will be held in next few days following which things will be clear.

Meanwhile, Union Minister for Petroleum and Natural Gas Hardeep Singh Puri on Tuesday ruled out that the government had controlled oil prices due to elections and said the decision will be taken in the best interest of the citizens.

The Union minister said, “Oil prices are determined by global prices. There is a war-like situation in one part of the country. We will take decisions in the best interest of our citizens.”

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