Tension increased due to increase in crude oil prices, government engaged in balancing oil prices

The fresh increase in crude oil prices in the international market has added to the concerns of the government. The government is struggling to strike a balance between inflation and energy security. There is also a whisper within the administration that the losses that the oil companies are currently facing due to petrol and diesel prices cannot be sustained for long. In such a situation, companies can also increase the retail prices of petrol and diesel in the coming days.

Companies will take this decision only after consultation at the highest level. According to sources, all options are being considered but energy security will be given topmost priority. The increase in the prices of petroleum products during March-April has not affected the demand. After the above increase, there has been an increase of 14 percent in the demand of petrol and two percent in the demand of diesel in the country.

The priority of the government is that there should be adequate supply of petrol and diesel in the entire country as per the requirement. We have enough energy reserves, for this it is necessary that the oil companies also make profits, only then they can spend for the future. In today's date, the crisis of petroleum products is knocking in many developed countries of the world. This situation should not happen in India.