Close X
Friday, September 20, 2024
ADVT 
India

India only country where petrol, diesel prices dropped in last 3 years: Hardeep Puri

Darpan News Desk IANS, 29 Jul, 2024 05:22 PM
  • India only country where petrol, diesel prices dropped in last 3 years: Hardeep Puri

New Delhi, July 29 (IANS) Union Petroleum and Natural Gas Minister Hardeep Singh Puri said on Monday that India is the only country where petrol and diesel prices decreased between November 2021 and April 2024.

During Question Hour in the Rajya Sabha, Puri also highlighted that the government is facilitating discussions between the Oil Marketing Companies (OMCs) and the dealers to address margin issues, pointing out that petrol and diesel were deregulated during the UPA administration.

Deregulation means the government does not set the prices of the commodity in the market, he said.

“Prices here being high and elsewhere being low. It's exactly the opposite. In India, the prices today are the lowest, and it is the only country where prices have actually come down,” Puri said.

He credited this to the 'bold, ambitious, and farsighted' decisions made by Prime Minister Narendra Modi.

"The prices across the world -- I am giving you a reference period between November 2021 and April 2024. Why I'm doing this is because we have the prices available. In India, the price of petrol came down 13.65 per cent and of diesel 10.97 per cent," Puri said.

However, he noted that in France, petrol prices have increased by 22.19 per cent, in Germany by 15.28 per cent, in Italy by 14.82 per cent, and in Spain by 16.58 per cent.

Puri also pointed out that while petrol prices in India have declined, they have risen in the neighboring countries.

He also slammed the UPA government for issuing oil bonds, stating, "Oil bonds were floated for Rs 1.41 lakh crore. Today, we are having to pay back Rs 3.5 lakh crore for that kind of a farsighted decision."

Regarding the increase in dealers' margins, Puri explained that it is a commercial matter between the Oil Marketing Companies (OMCs) and their dealers.

As of July 1, there are 90,639 retail outlets in the country, with about 90 per cent operated by public sector companies and the remainder by private sector firms.

"We are monitoring the situation and facilitating discussions between the OMCs and the dealers. The last margin increase occurred in 2017. Dealers went to court over some stringent conditions in the guidelines," he said.

"When dealer margins are raised, one condition is that they must comply with the Minimum Wages Act for their employees. The OMCs won the case in the high court, but dealers appealed to the Supreme Court in 2022. Although the matter is still sub judice, we are encouraging a dialogue between the OMCs and the dealers, and hoping for a resolution," the Minister added.

MORE India ARTICLES

Delhi hospital fire tragedy: Owner sent to 14-day judicial custody

Delhi hospital fire tragedy: Owner sent to 14-day judicial custody
A Delhi court on Thursday sent the owner of the Baby Care New Born Hospital, where seven children were recently killed in a massive fire, and a co-accused, to 14-day judicial custody. Hospital owner Dr. Naveen Khichi was arrested in the wake of the tragedy at the private hospital, along with an employee, Akash, who was on duty at that time.

Delhi hospital fire tragedy: Owner sent to 14-day judicial custody

2 lakh people affected in Assam due to floods

2 lakh people affected in Assam due to floods
Around 2 lakh people have been affected due to the devastating floods in the nine districts of Assam, an official said on Thursday. The Assam State Disaster Management Authority (ASDMA) has identified the nine districts as Hailakandi, Hojai, Golaghat, Nagaon, Karimganj, Cachar, Karbi Anglong West, Karbi Anglong, and Dima Hasao.

2 lakh people affected in Assam due to floods

Lok Sabha polls: Last phase of campaigning ends, all eyes on June 1 voting

Lok Sabha polls: Last phase of campaigning ends, all eyes on June 1 voting
The campaigning for the seventh and final phase of Lok Sabha elections came to a close on Thursday as leaders from the prominent political parties heightened their efforts with rallies till the last minute. On June 1, polling is scheduled to take place in 57 parliamentary constituencies spanning seven states and the Union Territory of Chandigarh to decide the fates of 904 candidates in the fray.

Lok Sabha polls: Last phase of campaigning ends, all eyes on June 1 voting

Woman strangled to death by husband in Delhi

Woman strangled to death by husband in Delhi
A 22-year-old woman was allegedly strangled to death by her husband in south Delhi over some dispute on Wednesday, police said, adding that a manhunt has been initiated to apprehend the accused.

Woman strangled to death by husband in Delhi

This election is about the country's future, Nitin Gadkari says in Himachal

This election is about the country's future, Nitin Gadkari says in Himachal
Union Minister for Road Transport and Highways Nitin Gadkari on Wednesday said "this election is not about the future of the Congress and the BJP but it is about the future of the country and its people".

This election is about the country's future, Nitin Gadkari says in Himachal

Several NE states cut off from rest of India by rail as tracks submerged or damaged

Several NE states cut off from rest of India by rail as tracks submerged or damaged
Several northeastern states, including Tripura, Manipur, Mizoram, and Assam (southern part), remained cut off from the rest of the country by rail as railway tracks were waterlogged and damaged after landslides triggered by incessant rain in the aftermath of Cyclone Remal, officials said on Wednesday.

Several NE states cut off from rest of India by rail as tracks submerged or damaged