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Won’t depend on just petroleum products, looking for alternatives: Union minister

Oil is an international commodity, and it is sold on basis of its prices in the international market. Under Prime Minister Narendra Modi’s vision there won’t be dependence on just petroleum products in coming time, says petroleum and natural gas Dharmendra Pradhan.

india Updated: Oct 28, 2018 14:51 IST
Asian News International
Asian News International
Hyderabad (Telangana)
petroleum,petroleum products,petrol price
Union minister of petroleum and natural gas Dharmendra Pradhan on Saturday said that India will not remain dependent on just petroleum products in near future as the country has already started looking for its alternatives.(HT File PHOTO)

Union minister of petroleum and natural gas Dharmendra Pradhan on Saturday said that India will not remain dependent on just petroleum products in near future as the country has already started looking for its alternatives.

While addressing the Bharatiya Janata Yuva Morcha (BJYM), Pradhan raised the issue of fuel prices and said, “I do understand the problems faced by party workers over the questions from the Opposition and common people regarding hike in petrol and diesel prices. We had promised to the people of India that we will not push our country into debt. That is the reason why we have taken some burden on ourselves and reduced the fuel prices by Rs 2.50 paise per litre and asked state governments to reduce the same amount from their end also.”

Pradhan added that “oil prices are not related to the Indian market.”

“It’s an international commodity. We have to sell them on the basis of their prices in the international market. Under Prime Minister Narendra Modi’s vision we won’t be dependent on just petroleum products in coming time. Today, we produce solar energy. Recently, we brought up the biofuel policy in India,” he said.

Petrol prices in the national capital were reduced by 40 paise to Rs 80.45, while diesel saw a reduction of 35 paise to fall to Rs 74.38.

In a bid to ease the crunch caused by soaring fuel prices, finance minister Arun Jaitley had, on October 4, announced a reduction of Rs 2.50 per litre on both petrol and diesel prices after curbing excise duty on the commodity by Rs 1.50 per litre. (ANI)

First Published: Oct 28, 2018 14:46 IST