India takes treads for cheap petrol and diesel, will provide relief soon
India takes treads for cheap petrol and diesel, will provide relief soon
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New Delhi: Corona has changed many things in the country to control petrol and diesel prices in the country and the government will increase crude oil procurement from the US and Africa to protect Saudi Arabia from arbitrary crude oil prices. India is the third-largest crude oil importer in the world. The Modi government had appealed to Saudi Arabia to increase crude oil production to reduce its demand and bring down prices. Earlier, Petroleum Minister Dharmendra Pradhan had said that rising crude oil prices are a hindrance to the economy of developing countries recovering from the post-corona situation.

On the same, Saudi Petroleum Minister Prince Abdulaziz bin Salman had advised India that India should use crude oil stocks purchased in 2020 due to price fall. Pradhan described his reply as 'undiplomatic.' Meanwhile, the Central Government has asked public sector oil companies to increase crude oil procurement from the US and Africa and reduce crude oil dependence on Saudi Arabia by one-third.

According to sources related to state-run oil companies, companies average 1 to Saudi Arabia every month. 480 million barrels of crude oil are ordered. But this time only 95 lakh barrels have been ordered for May. According to sources, the possibility of bringing grade from Brazil, Liza from Guyana, and Johan Swardrup crude oil from Norway is also being discussed to meet the shortfall in India after the reduction in oil imports from Saudi Arabia.

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