Petrol and diesel
Soon the price of petrol and diesel may be reduced, Petralium Minister Hardeep Singh Puri has indicated about it. He said on Thursday that if the prices of crude oil persist at the current level for the next two to three months, then India has the scope to reduce the price of petrol and diesel. He said that India is trying to order crude oil from different countries.
The minister said, as new sources of supply are added, oil prices will come down. We have a lot of oil. He said that for energy security, India is working on the policy of buying oil from more countries than before.
India buys crude oil from 40 countries
Puri said that India has increased the network of crude oil imports compared to earlier. India now states oil from 40 countries instead of 27. 16% growth in the oil market has come from India and some reports say that it can go up to 25%.
If the supply stops from Russia, everyone will have trouble
On the threat of the US to impose secondary selection on countries buying oil from Russia, Puri said, Russia gives 10% of the world’s total oil production. Our statistics show that if Russia had been out, the price of oil would have gone up to $ 130 per barrel. Türkiye, China, Brazil and even the European Union have bought oil and gas from Russia.
Last week, the minister had said that continuously buying crude oil from Russia has helped to keep global energy prices stable, otherwise the price of crude oil would have reached $ 120-130 per barrel when oil imports from Russia were closed.