Union Petroleum and Natural Gas Minister Dharmendra Pradhan said on Saturday that there is no need to be troubled by the ongoing crisis between Iran and the US. The government is keeping an eye on oil prices and if needed, crude oil will be purchased from other countries of the world.
Dharmendra Pradhan said the government is monitoring oil prices
Speaking separately at a function organized by CII, Pradhan said that the situation in the Gulf countries is very critical at the moment. The government has also maintained the status quo on its behalf. Pradhan said that oil prices have increased for the last few days, but now it is coming down. The government is doing its best to ensure that the prices do not increase.
There is no possibility of an increase in crude prices
On the question of fluctuations in crude oil prices in view of the Iran crisis, Birol said that at present, there is the sufficient supply in the world oil market. So the Iran crisis will not affect oil prices. He said I do not think that crude oil production in America will be less. It will continue to grow. Also, production is increasing in countries like Brazil, Norway, Canada, due to which there will be sufficient availability and there will not be a big jump in the price of crude.
Petrol and diesel prices also seen on Saturday. Oil marketing companies have increased the rate of petrol by six paise per liter and diesel by 13 paise per liter. In the international market, the effect of decreasing crude oil prices and strengthening rupee against the dollar also not seen.
Diesel became expensive by 38 paise in three days
In the last three days, petrol 27 and diesel 38 paise per liter has become expensive in Delhi. According to the website of Indian Oil, the rates of diesel and petrol in Delhi, Mumbai, Kolkata and Chennai reached 76.01, 81.6, 78.59, 78.98 per liter respectively on Saturday. Diesel rates were 69.17, 72.54, 71.54, 73.1 per liter respectively.