Petrol Diesel News: After the increase in crude oil prices, the prices of petrol and diesel also increased in India. Due to which the general public has become very upset. Because not only has fuel become expensive but the prices of everything related to it are increasing. Meanwhile, there is a relief news for the people troubled by expensive petrol and diesel. The Central Government Minister has said that oil prices will not remain elevated for long.

Government said oil prices will come down!
In fact, recently Union Petroleum and Natural Gas Minister Hardeep Singh Puri has said that the current prices of crude oil and gas will not last long and these prices may come down in the coming months. He said, ‘India has sufficient oil and gas reserves. The existing stock can meet the needs of the country for about 70 to 80 days. This will help in dealing with the short term crisis. However, he also said that if the conflict continues, the situation may become more serious.

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India is finding solution through diplomacy
India fulfills a major part of its oil needs through imports. In such a situation, if the supply from the Gulf region is affected, the shortage can be compensated by increasing the supply of oil from western countries like America and Canada. Meanwhile, India is continuously appealing to all parties to negotiate and adopt diplomatic solutions. Expressing concern over the recent tension, the Foreign Ministry has also expressed the need to immediately reduce tension and continue talks.

Let us tell you that due to the ongoing conflict between Iran and the US, there is turmoil in the global energy market. Due to this, the supply of oil and gas has been affected and the prices of crude oil in the international market have reached close to $ 100 per barrel. Global supply was particularly affected by the disruption in the Strait of Hormuz, through which about 20 percent of the world’s oil and gas flows.

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