After Donald Trump’s swearing-in on January 25, the hopes of those countries of the world, including India, which imports more than 70 percent of its needs, have once again increased. In such a situation, it is being speculated that the price of petrol and diesel in India can again fall. The country’s Oil Minister Hardeep Singh Puri has also given indications of this.
In fact, after the arrival of Donald Trump, it is being speculated that America will once again increase crude oil production, due to which the supply of crude oil will increase and prices will come under control, which will reduce the prices of petrol and diesel in those countries which import more than 70 percent of their oil needs.
What is the indication of the Petroleum Minister
Let us tell you what kind of information the country’s Oil Minister has given. Petroleum and Natural Gas Minister Hardeep Singh Puri said on Tuesday that more American oil is likely to come to India in view of the plans of the new administration led by President Donald Trump to maximize oil and gas production.
Puri said here at a new event of automobile industry body SIAM that the number of oil suppliers to India has already increased from 27 to 39 and if more oil comes from this, India will welcome it.
When asked about the steps taken by the Trump administration to increase oil and gas production, Puri said that if you ask me if more American fuel is going to come in the market, my answer is yes. If you say that there is a strong possibility of more fuel purchases between India and America, then the answer is yes.
This is how fuel prices will be controlled
However, Puri said that the government is keeping a very careful eye on the announcements of the new US administration. He said that some decisions taken by the Trump administration were expected and there is a need to wait before taking action on them. However, Puri refused to comment on the decision of the new US government to withdraw from the 2015 Paris Climate Agreement.
The Petroleum Minister has also indicated a fall in prices by mentioning that more oil will come from America, Brazil, Guyana, Sarina, and Canada. He has also asked vehicle manufacturers to increase the availability of flex fuels with more ethanol blends in the Indian market.
Along with this, the Petroleum Minister said that the country is going to achieve the target of 20 percent ethanol blend very soon, which will be 5 years before the scheduled time. If America comes more and more in the oil market, then the oil of America and Gulf countries will be cheaper in the international market, due to which there will be a fall in the prices of petrol and diesel in India and inflation will also be under control in the country.
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