New Delhi: Amid the Israeli-Palestinian conflict, crude oil prices continue to rise in the international market. However, its impact is going to hit the domestic market very soon. At such a time, a big statement has come from the government regarding the price of petrol and diesel in the country. The government has clearly said that there may be an increase in the price of petrol and diesel in the country in the coming days.
Due to the ongoing conflict, the price of crude oil is increasing in the international market. The main reason for this is the availability of crude oil. If the supply of crude oil decreases, the market price is sure to rise. After which the Indian government may have to increase the price of petrol and diesel. Union Petroleum Minister Hardeep Singh Puri said that now we are facing three challenges, “availability, affordability and sustainability”. Now we are not much worried about availability of the crude oil as the number of countries from which we are importing this has now increased from 27 countries to 39 countries. So, if there is a problem in one region, we can get oil supply from another region. Affordability is related to availability. A sudden decrease in the quantity of oil available in the market may cause the price to rise. For sustainability, we have not weakened our position in promoting green energy, he added.