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"Fuel price rise in India has been contained in comparison to an exponential rise in developed countries," he said
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The union minister for petroleum and natural gas, Hardeep Singh Puri recently said that India has demonstrated great resilience in the face of the global energy crisis that erupted due to the Russian invasion of Ukraine.
According to the official statement, Puri said that the central government has taken several measures to minimize and mitigate the volatility of global crude oil and gas prices.
"Fuel price rise in India has been contained in comparison to an exponential rise in developed countries," he said.
Puri also said that most of the developed nations have witnessed a significant inflation rise in gasoline price by almost 40 per cent from July 21 to August 2022, while in India, gasoline price has reduced by 2.12 per cent.
The minister said that India’s move towards a ‘gas-based economy’ by connecting Indian consumers through the city gas distribution, enhancing regasification capacities, expanding pipeline networks and setting up CNG stations.
"Achievement of 10 per cent blending of ethanol in petrol in May 2022, ahead of the November 2022 deadline, setting up of 2G refineries to make ethanol, and a host of other initiatives, is a symbol of government’s resolve towards just energy transitions," he said.
"The significance of the various social welfare schemes like the Prime Minister Ujjwala Yojna and its role in ending energy poverty, ensuring social upliftment and as a catalyst of social change cannot be emphasised enough," he stated.