NEW DELHI: As international crude prices eased to near-pre-conflict levels, petroleum minister Hardeep Singh Puri on Thursday said the question of cutting retail petrol and diesel prices would become “legitimate” if global oil markets remain stable over the next few weeks.The minister said refiners were still processing crude booked over two months ago at the height of the West Asia conflict, when prices were elevated and freight and insurance costs high. Up to June 30, the losses oil marketing companies suffered by selling petrol, diesel and LPG below costs were estimated at Rs 74,781 crore, he added.“If crude prices remain at these levels for the next few weeks, cutting petrol and diesel prices will be a legitimate question that everybody asks. But what the situation will be then, it is not right for me to speculate,” Puri said.‘Minor’ drop in mileage of vehicles due to E20, says Hardeep Singh PuriSeeking to allay public fears over ethanol-blended fuel, petroleum minister Hardeep Singh Puri Thursday said a “make-believe” narrative had been unleashed on social media over the past few days.Addressing a press conference, the minister said the reduction in mileage of an E20-fuelled vehicle is “minor”. “It is well established that when you have ethanol in a vehicle, which they use in racing cars also, the acceleration increases, knocking improves. Mileage may drop a little, but it can happen because of many other reasons also,” he said. Puri added that insurance companies had also issued clarifications regarding vehicle coverage.Puri said his ministry had compiled a 15-page note tracing the journey of ethanol blending, listing the countries where it is practised. The note will also answer people’s concerns.The note stated that “misleading videos, selectively edited clips and sensational social media posts” were being circulated with the objective of “creating fear amongst vehicle owners” regarding the use of E20 fuel.Puri said India adopted 20% ethanol blending in petrol after consulting all stakeholders, including SIAM and ARAI, and would move to 25% blending only after completing all necessary tests. The minister said the concept of ethanol blending was not new and prominent car maker Henry Ford called it the “fuel of the future”.
