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Amidst the fire in crude oil, the government can give relief regarding petrol and diesel, the Petroleum Minister gave this big statement

HIGHLIGHTS

  • In the international market, the prices have crossed $130 per barrel.
  • Petroleum companies will soon take a decision on fuel prices
  • We import 85 percent oil and 55 percent gas

New Delhi. Crude oil prices are on fire due to Russia-Ukraine war. In the international market, the prices have crossed $130 per barrel. Petrol and diesel prices in the country have not changed since November 4. In such a situation, after the results of the elections in 5 states, there is bound to be a heavy burden of oil prices on the general public. But in the meantime, a relief message has come from the government for the general public. 

Petroleum and Natural Gas Minister Hardeep Singh Puri on Tuesday assured that there will be no shortage of crude oil in the country amid the Russo-Ukraine war, saying that only petroleum companies will take a decision on fuel prices. Along with this, Puri said that the government will take any decision regarding oil prices keeping in mind the interests of the citizens. 

“I assure you all that there will be no shortage of crude oil in the country,” Puri said at a press conference here. We will ensure that our energy needs are met. However, we import 85 percent of our oil and 55 percent of our gas. Again their prices will be increased. 

The voting process has been completed in these states and the results are due on March 10. He said that before forming any opinion about the increase in oil prices, it should also be taken into account that global factors like Russia-Ukraine crisis increase prices. “The determination of oil prices depends on global prices. If there is a situation of war in one part of the world, then the petroleum companies will keep it in mind. 

The petroleum companies themselves will take a decision regarding the prices. We will take a decision only in the interest of the citizens.” He said that at the time of the spread of the epidemic, there was a downward trend in oil prices due to the stagnation of economic activities, but now the situation has changed. He said that the petroleum companies will take a decision keeping all these aspects in mind.

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