No Shortage Of Crude Oil In Country : Hardeep Singh Puri

Petroleum and Natural Gas Minister Hardeep Singh Puri assured that there will be no shortage of crude oil in the country amid the Russia-Ukraine war. The minister said on Tuesday that only petroleum companies will take a decision on fuel prices. Along with this, Puri said that the government will take any decision regarding oil prices keeping in mind the interests of the citizens.

Hardeep Singh Puri said in a press conference, ''I assure you all that there will be no shortage of crude oil in the country. We will ensure that our energy needs are met. However, we import 85 per cent of our oil and 55 per cent of our gas requirements."

He also denied the allegation that the government had reduced fuel prices keeping in mind the assembly elections in 5 states and their prices would be increased again as soon as the elections are over. The process of voting has been completed in these states and the results are going to come on March 10.

He said that before making any opinion about the increasing oil prices, it should also be taken into account that global reasons like Russia-Ukraine crisis increase prices. He said that the determination of oil prices depends on the global prices. If there is a situation of war in one part of the world, then the petroleum companies will keep this in mind.

Puri said that the petroleum companies themselves will take a decision regarding the prices. We will take a decision in the interest of the citizens only. At the time of the spread of corona epidemic, there was a downward trend in oil prices due to the stagnation of economic activities, but now the situation has changed. Puri said that petroleum companies will take a decision keeping all these aspects in mind.