New Delhi: India will use whatever “margin persuasion” he has while talking to oil-producing countries to ensure fuel prices fall in the country, oil minister HardeeP Singh Puri said on Friday.
He added that Indian dependence on traditional energy sources such as gasoline and coal will remain for a very long time and the transition to green energy sources will be orderly only if their prices are affordable.
In his speech on the Indo-Pacific Regional Dialogue held by the Indian Navy, Puri said, “As a minister, the government is very sensitive to price.
And I can tell you, with total trust, that we will use any persuasion margins we have , bilaterally with my colleagues, or multilateral or thrown, to ensure the price falls.
“A week ago, the minister said India was looking to unite the public sector business (PSU) and the provision of the private sector to find better crude oil imports from Saudi Arabia and other international oil prices rose to a multi-year high of $ 85 per year.
Barrel has sent local retail gasoline, diesel and LPG prices to record levels.
India, which imports 85 percent of its oil needs and is a country that consumes the third largest energy and imported in the world, has impressed the producers to increase output to help stabilize the level at an affordable level.
The Minister also said, “We will transition to green and sustainable energy very quickly but dependence on traditional energy will exist in a very long time.
Let’s not make mistakes on it.” “If we don’t get the right price, and if we don’t allow access to energy at affordable prices, we will have a problem to ensure that the transition from here to green energy will be orderly,” he said.
India is the only country where because per capita energy consumption is a third of the global average, growth will exponentially in terms of energy needs, he said.
There is a positive and negative side for that, said Puri.
If the price by the main producer remains high and more oil is not included in the market, at several stages affecting us, the minister added.
At present, the consumption of gasoline and Indian diesel consumption is 20 percent and 12-14 percent higher than before the Covid-19 pandemic, which is stated.
“This means that the economy is shooting the six cylinders,” he added.