Petroleum prices to normalize by the end of winter
26 Feb 2021 15:50:04
New Delhi, Feb 26: In order to ease the concerns of people over the upward spiraling of fuel prices, Union Minister Dharmendra Pradhan said on the price will decrease as the winter season ends. The Union Minister Dharmendra Pradhan said, "Increase in petroleum price in international market has affected consumers as well. Prices will come down a little as winter goes away. It is an international matter, price is high due to increase in demand,which is usual during winter. It will come down as the season ends."
The Union Minister of Petroleum, Natural Gas and Steel Dharmendra Pradhan explains the reason for the significance of the North-eastern Region (NER) that includes Arunachal Pradesh, Assam, Manipur, Meghalaya, Mizoram, Nagaland, Tripura and Sikkim, for oil and gas sector of the country and stated that, "The first oil deposits in the country were discovered near the town of Digboi and Duliajan areas of Assam and around 18 per cent of the country's oil resources are located in the northeast east region (NER).
Assam, Arunachal, Nagaland, Mizoram, Tripura are the areas that are full of oil and gas fields. When the Modi govt came in power in 2014, it was decided to create an infrastructure of the crude pipeline, gas pipeline, increase exploration, refining and gas production capacity.
The prices of LPG, petrol and diesel have been repeatedly hiked in the country. The opposition parties held protests in different parts of the country over the rise of prices of diesel and petrol. However, the minister's statement regarding the fall of petroleum prices soon, has posed some hope for the common man.