Gaurav Gogoi Urges Immediate Cut in Fuel Prices Amid Global Oil Price Drop
Call for Fuel Price Reduction
A file image of Gaurav Gogoi (Photo: @gauravGogoiAsm/x)
Guwahati, July 1: Gaurav Gogoi, the president of Assam Congress, has called for an urgent reduction in petrol and diesel prices by state-owned companies, citing a decrease in global oil prices following improved relations between Iran and the United States.
He pointed out that the decline in international crude oil prices is a direct result of the recent diplomatic efforts to halt the ongoing conflict.
Gogoi remarked, "While LPG prices have been lowered, it is essential that petrol and diesel prices follow suit. The previous price hikes were justified by the ongoing war between Iran and Israel," during a press conference.
He questioned, "Why are the prices not being adjusted downwards? Why are oil marketing companies profiting from this situation?" as he serves as the Deputy Leader of Congress in the Lok Sabha.
On the same day, Aviation Turbine Fuel (ATF) and commercial LPG prices saw reductions due to the easing of tensions in West Asia, which has led to a drop in international oil prices. Notably, Nayara Energy became the first private fuel retailer in over two years to lower petrol and diesel prices.
The price of ATF was decreased by approximately Rs 5 per litre, marking the first reduction since the recent surge caused by the conflict in West Asia.
Additionally, PSU oil marketing companies have reduced the price of commercial LPG by up to Rs 183.50 for a 19 kg cylinder, marking the first price cut this year.
Nayara Energy has also lowered petrol prices by Rs 5 per litre and diesel by Rs 3 per litre across its network of over 7,000 fuel stations.
However, major state-owned companies like Indian Oil Corp (IOC), Bharat Petroleum Corp Ltd (BPCL), and Hindustan Petroleum Corp Ltd (HPCL), which dominate more than 90% of India's fuel retail market, have opted to keep their prices unchanged.