India is the only country where petrol and diesel prices declined between November 2021 and April this year, the country’s Minister for Petroleum and Natural Gas Hardeep Singh Puri said, TV channel Ndtv reported on July 29.
According to the report, Puri was speaking during the Question Hour in the upper house of the Indian Parliament, the Rajya Sabha. In particular, he spoke about fuel prices.
“For global prices, I will give you an indicative period of two years, from November 2021 to April 2024. In India, petrol prices fell by 13.65% and diesel prices by 10.97%.”said the minister.
He cited figures from other countries for comparison. In France, the increase in petrol prices was 22%, in Germany 15%, in Italy around 15% and in Spain 16.5%.
“[Обычно] Prices in the country are high, but elsewhere they are low. [Сейчас] “Everything is exactly the opposite. Today, India has the lowest prices and is the only country where prices have really come down.”“Puri said.
He explained this situation. “Very bold, ambitious and forward-looking decisions” Indian authorities.
Recall that over the past two years, India has significantly increased its imports of oil from Russia. In the spring of 2024, the latter accounted for 38% of the total volume of oil purchased by India. At the beginning of 2022, this share was 2%.
According to an estimate made by the Indian rating agency ICRA Limited in the spring, purchases of Russian oil in the 2023-2024 financial year (ending in April) allowed India to save $7.9 billion.
Source: Rossa Primavera
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