India

Watch: Price Of Petrol, Diesel Is Set Due To International Prevailing Price, Says Petroleum Minister Hardeep Singh Puri

Hardeep Singh Puri, Union Minister of Petroleum and Natural Gas on Monday stated that the price of petrol and diesel is determined due to international prevailing price.

Puri stated, “…The price of petrol and diesel at the bunk is determined in large part due to the international prevailing price because we import 85% of our requirements of crude oil. I have done some statistics, between 2004 and 2014 the price of petrol and diesel in Bengaluru went up by 84%.”

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He also stated that during the Congress time the price of diesel went up by 111 per cent.

“This is during the Congress time and in diesel, it went up by 111%. Because the international price had gone up and to that, you add the cost of insurance, cost of freight, refining margin…In our time, from 2014 to 2024, there was turbulence in the international situation, there was a Russia-Ukraine war situation which is still going on, there was a problem closer to home in the Red Sea, attacks by Houthi rebels…Yet we have been able to navigate the international situation…”

Avijit Gupta

I am a passionate multimedia journalist with a proven track record in editorial roles at leading media organisations. As a Sub-Editor at The Daily Guardian I've covered everything from Box-office breakdowns to in-depth film analysis. I thrive in fast-paced environments, tackling new challenges head-on and bringing a fresh perspective to every story.