Fuel Price Revisions Hinge on Sustained Crude Oil Decline

NITI Aayog Vice Chairman Ashok Lahiri said that fuel prices will be revised once the decline in crude oil prices is sustained. Speaking to The Statesman, Lahiri emphasized that fuel prices would not be adjusted frequently in response to fluctuations in global crude oil prices.

He noted that India's government has taken steps to deal with the West Asia crisis and uncertainty over the Strait of Hormuz by increasing energy efficiency and diversifying the country's energy sources. The current price of petrol in Kolkata stands at Rs 114.51, while diesel is priced at Rs 99.82.

Lahiri also commented on the single-window clearance platform for investment proposals of over Rs 100 crore launched by the West Bengal government, calling it a 'very welcome initiative' but stressing the need for continuous monitoring.