Petroleum and Natural Gas Minister Hardeep Singh Puri said that India is one of the least affected nations by global crude oil price inflation. Addressing a press conference in New Delhi on Saturday, Mr Puri said that between 2020 – 2022, domestic LPG prices have increased by 72 per cent, against the 303 per cent increase in the international market. He added that despite global inflation of petroleum, petrol prices have decreased by 4.5 per cent in India.
Highlighting the challenges, Mr. Puri said that with 85 per cent of petroleum being imported into India, ongoing global geo-political instabilities pose a huge challenge as it affects the supply chain. The Minister however assured that with the nation progressing in indigenous renewable energy and providing consistent subsidies, increases in prices will be kept under check check.
