Petrol Prices have come down (Sixth time since Narendra Modi became PM) by Rs 2.41 and Diesel prices have come down by Rs. 2.25 (Second time since Narendra Modi became PM). Now for few semi literate people/Modi haters will start ranting that it was the fall in International Price which caused this reduction in Price. Yes, it is true that there is a big fall in the Crude Oil prices, but that is not the only reason. Crude Oil was at $82 per Barrel in Jun 2009, but look at the Price of Petrol then (considering the price of Dollar at that time). What Modi Government is doing? 1. India is importing more Oil from Iran. Indias Oil import from Iran has been increased by 38%. 2. We used to import more than 15% oil from Iraq, but ISIS created big mess there, and it could have impacted us a lot, but India did well and has increased import from Iran. 3. Russia is helping India to provide a channel to pay the bills to Iran. Iran has been facing sanctions from US, but this government did not succumb to any foreign pressure and is doing business with Iran. 4. India which imports 61% of Oil from Middle East has started diversifying its import options. Government has started importing more oil from Brazil, Columbia and Venezuela in the Latin America. These clear and positive steps have helped India to reduce prices of Petrol and Diesel. In coming days, it will go down.
Posted on: Sat, 01 Nov 2014 04:45:41 +0000
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