Lahiri: Fuel Prices to Be Revised When Crude Oil Declines Stabilize
NITI Aayog Vice Chairman Ashok Lahiri said that fuel prices in India will be revised when international crude oil prices remain at a steady lower level. This follows a decline in global crude oil prices, which have implications for energy supplies and prices.
Lahiri cautioned against adjusting fuel prices frequently in response to fluctuations in global crude oil prices. Instead, the government will wait until it is clear that prices have declined and are likely to remain at that level.
On the potential impact of the West Asia crisis on India, Lahiri said that the situation could be viewed from both a short-term and medium- to long-term perspective. He noted that the government has taken steps to deal with the situation, including increasing energy efficiency and diversifying the country's energy sources.