Hardeep Puri in talks with Saudi Arabia, Gulf countries, Russia over rising fuel prices

Union Petroleum Minister Hardeep Singh Puri spoke to the press today on rising fuel prices. He said, “I am talking to my counterparts in Saudi Arabia, Gulf countries and Russia...we are working at various levels.” Petrol and diesel prices in India have stayed unchanged for two days in a row as of Tuesday. With the recent price boost on October 24, however, fuel prices are still at an all-time high.

Traders in Delhi's wholesale and retail marketplaces reported on Monday that prices of vegetables and fruits had climbed as rising fuel prices continue to drive up transportation costs. Petrol costs Rs 107.59 a litre in the National Capital on Monday, while diesel costs Rs 96.32. However, in Mumbai, diesel has surpassed the 100-per-litre level and is now retailing for 104. Since September 24, diesel prices have been raised by Rs. 7.70 per litre in 24 increments.

Petroleum Minister Hardeep Puri in talks with Saudi Arabia, Gulf countries, Russia

Fuel price hike in 2021

Prior to that, the price of petrol was raised by Rs 11.44 per litre between May 4 and July 17. During this time, diesel prices have climbed by Rs. 9.14 per litre. The central government is discussing oil supply and demand with a number of oil-exporting countries, but there is no guarantee of fast price relief. Crude oil prices, which had been at a multi-year high the day before, have also stabilised on Tuesday. Oil prices were at multi-year highs as producers tightened supply despite increased demand due to rapid economic recovery following the COVID pandemic. Low US inventories and a coal scarcity in big markets like China and India were also immediate issues.

Congress slams Centre over fuel hike 

The Congress attacked the government over rising fuel costs on Sunday, with former party chief Rahul Gandhi taking a swipe at the administration, claiming that the government's "tax dacoity" on petrol prices is rising and that there will be some relief if elections are held someplace. Priyanka Gandhi Vadra, the Congress general secretary, also blasted the Centre for rising gasoline and diesel prices, stating that the Modi government had set new records for "giving trouble" to the public. Taking a swipe at the government, Rahul Gandhi, in a tweet in Hindi, said, "Tax dacoity over petrol prices is rising. There would be some respite from it if elections take place somewhere." He used the hashtag 'TaxExtortion' with his tweet.

(With inputs from ANI, PTI)

(Image: PTI)