Key Points:
- The Union Minister for Petroleum, Natural Gas and Steel, Dharmendra Pradhan said that after discussing with his petroleum producing countries said that he has asked them to increase their oil production so that Indian consumers get relief from soaring fuel prices.
- Pradhan said that no one can predict WHEN will the prices of diesel, petrol and gas go down, with certainty. Pradhan added saying, “But the prices of cooking gas, diesel and petrol ‘MAY’ come down by March or April,”
- The prices of LPG, petrol and diesel have been frequently hiked in the country since the past few months. Opposition parties and people have also held protests in different parts of the country over the rise of prices of diesel and petrol.
The Union Minister for Petroleum, Natural Gas and Steel, Dharmendra Pradhan said that after discussing with his petroleum producing countries said that he has asked them to increase their oil production so that Indian consumers get relief from soaring fuel prices.
Pradhan said that, “I am in touch with my counterparts of major oil-producing countries and have spoken to them. I have asked them to increase fuel production in order that prices of oil may come down in our country which buys fuel from these countries.”
“In April last year, major oil-producing countries decided to cut production as there was a sharp fall in demand due to the Covid-19 pandemic. These countries are producing less fuel to make more profit. While less fuel is still being produced, the demand for fuel has reached the point as it was before pre-Covid situation. Therefore, petrol and diesel prices have increased in the country,” Pradhan told reporters during an interaction in Varanasi on Saturday evening.
Pradhan said that no one can predict WHEN will the prices of diesel, petrol and gas go down, with certainty. Pradhan added saying, “But the prices of cooking gas, diesel and petrol ‘MAY’ come down by March or April,”
“The first oil deposits in the country were discovered near the town of Digboi and Duliajan areas of Assam and around 18 per cent of the country’s oil resources are located in the northeast east region (NER). Assam, Arunachal, Nagaland, Mizoram, Tripura are the areas that are full of oil and gas fields. When the Modi government came in power in 2014 we decided to create an infrastructure of the crude pipeline, gas pipeline, increase our exploration, refining and gas production capacity,” he said earlier.
The prices of LPG, petrol and diesel have been frequently hiked in the country since the past few months. Opposition parties and people have also held protests in different parts of the country over the rise of prices of diesel and petrol. TMC Chief Mamata Banerjee was see riding an Electric Bike as a symbolical protest against the Petrol process and 26th February was a Bharat Bandh as AITWA and other organizations asked drivers to park their vehicles due to the risen fuel prices.
