New Delhi, July 3 -- With cooling of brent crude prices, all eyes are on petrol and diesel rates and next move of domestic retailers. Easing of tensions in West Asia and US and Iran's progress in peace talks towards a lasting accord can be attributed to recent softening in international energy markets. Union Minister of Petroleum and Natural Gas Hardeep Singh Puri on Thursday provided an answer to most concerning question on fuel price as masses await cuts in petrol and diesel prices.

While addressing a press briefing, Puri provided crucial context regarding the financial state of state-run Oil Marketing Companies (OMCs). Suggesting that any future adjustment in petrol and diesel prices depends on international prices, he said, "If the q...