Fuel prices likely to drop further as Centre decides to release crude oil from its reserves
India Today
The Centre has agreed to release five million barrels of crude oil from its Strategic Petroleum Reserves. The move comes after consultation with other major global energy consumers, including the US, China, Japan and South Korea.
The prices of petrol and diesel could see a further drop in the coming days as the Centre has decided to release five million (50 lakh) barrels of crude oil from its Strategic Petroleum Reserves.
The decision was taken after Minister of Petroleum and Natural Gas of India Hardeep Singh Puri held a meeting with top ministry and officials of oil marketing companies in Delhi on Tuesday.
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