Amid the global crisis, petrol and diesel prices increased in India compared to other countries of the world.

New Delhi. Amid the sharp rise in global crude oil prices, a huge increase in petrol and diesel prices has been recorded in many countries of the world. However, there has been relatively less increase in fuel prices in India. Government oil companies have increased the prices of petrol and diesel in a phased manner after about 76 days. In India, the price of petrol increased by about Rs 4.74 per liter and diesel by Rs 4.82 per liter. The government claims that despite the global crisis and rising crude oil prices, less burden has been put on the common people in India.

How much less have prices increased in India compared to the world?

Oil distribution companies Indian Oil Corporation, Bharat Petroleum and Hindustan Petroleum have increased the prices of petrol and diesel by about 5 percent. In many countries this increase was very high. In Myanmar, petrol prices have increased by almost 90 percent and diesel by more than 112 percent. In Malaysia, petrol became costlier by 56 percent and diesel by 71 percent. In Pakistan, the price of petrol increased by about 55 percent and diesel by 45 percent. The government says that India kept prices under control to a great extent despite fluctuations in the international market.

How serious is the situation in developed countries?

Developed countries like America and Europe also saw a big increase in fuel prices. In the US, petrol prices increased by about 44.5 percent and diesel by 48.1 percent. In Britain, petrol became costlier by 19 percent and diesel by 34 percent. In France, the prices of petrol increased by about 21 percent and diesel by 31 percent. Experts believe that due to the ongoing tension in West Asia and instability in the global crude oil market, fuel has become expensive across the world.

What did Piyush Goyal say on the fall of rupee?

Regarding the fall of rupee against dollar, Piyush Goyal said that the government does not directly interfere in the exchange rates. He said the value of the rupee is determined by market forces and global conditions. According to Goyal, the government’s focus is on increasing exports, reducing dependence on imports and encouraging investment in India. He also said that the rupee has strengthened again in the last two-three days and this is part of the normal process of the market.

Crude oil prices in the global market and the situation in Western Asia will continue to be monitored. If oil becomes expensive in the international market, then fuel prices in India may also be affected. However, the government is currently trying to control prices so that there is no additional burden on the common people.