Puri Says Fuel Prices Will Cool: Petrol Buyers Should Not Bet The House On It
Union Petroleum Minister Hardeep Singh Puri has said petrol and diesel prices are likely to ease in the coming months, even as four revisions since May 15 have pushed pump rates up by more than Rs 7 per litre. Puri told CNN-News18 that crude is unlikely to stay at current levels for long.
What was announced
Speaking to CNN-News18, Puri said oil prices are unlikely to remain at current levels for an extended period and are expected to moderate in the months ahead. He cautioned that the outlook could deteriorate if tensions in the Gulf region spread further. The recent spike has been driven by supply disruptions linked to the Iran conflict, which has affected shipments through the Strait of Hormuz.
Buy for today's pump price, not for a cut the Petroleum Minister is hoping arrives by Diwali.
Pump prices were first raised on May 15, followed by three further revisions through late May. The combined impact is a rise of more than Rs 7 per litre on both petrol and diesel.
| Fuel | Change since mid-May | Approx increase |
|---|---|---|
| Petrol | Up ~7.8 percent | Over Rs 7 per litre |
| Diesel | Up ~8.6 percent | Over Rs 7 per litre |
Revisions occurred across four steps starting May 15, 2026. The minister's outlook is contingent on no further escalation in the Gulf.
The Car Jury verdict
Puri's forecast is a political reassurance, not a guarantee. The Strait of Hormuz disruption is real, and as the minister himself admitted, a wider Gulf escalation flips the script. A buyer parking Rs 12-15 lakh on a petrol Nexon or Kwid today should plan around current pump prices, not a hoped-for cut by Diwali.
The smarter hedge is the powertrain choice itself. We rate the Tata Harrier EV and Tata Curvv EV as BUY, and the Mahindra BE6 the same; running costs on these are insulated from Hormuz headlines. As Biturbo Media noted in a recent segment roundup, "Tata's Tiago and Renault's Kwid are among the" entry-petrol cars buyers still default to, and those are the wallets feeling this 7.8 percent petrol hike most. Buy for today's price, not Puri's projection.
