The price of crude oil has been gradually decreasing in the international market for the last few years. The price of crude oil, which was 120 dollars per barrel a year ago, has now fallen to 70 dollars.
New Delhi : Indian oil companies will be able to take a call on reduce petrol and diesel prices if international crude price stay in stable territory, Petroleum Minister Hardeep Singh Puri said on Saturday.
In fact, the price of crude oil has been gradually decreasing in the international market for the last few years. The price of crude oil, which was 120 dollars per barrel a year ago, has now fallen to 70 dollars. In May, 45 percent of India's crude oil imports came from cheap Russia. But the price of oil in the country's market has not decreased. The petroleum minister feels that the price of crude oil has reached a stable place. If this status quo is maintained, it will be possible to reduce the price in the coming days.
Significantly, a few years ago, the Center had reduced many tariffs in one fell swoop. At that time, the duty was reduced by 8 taka on petrol and 6 taka on diesel. Then the price of petrol did not decrease for a year. It didn't increase that much. Petroleum Minister claims, "The price of petrol and diesel has not increased because of the successful policies of Narendra Modi government." In the coming days, the Center will take steps to ease the suffering of common citizens."
Hardeep Puri's words clearly indicate that the Center is going to reduce the prices of petrol and diesel in the coming days. The question is, the price of crude oil has increased long ago, so why is the Center's understanding after so long? In fact, the BJP recently suffered a major setback in the Karnataka elections. At the end of the year, 4 more state assembly polls. There is also a possibility of shock. So before the Lok Sabha, the BJP wants to focus on petroleum products. Such is the political circle.
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