HUBBALLI: Union Minister for New and Renewable Energy Pralhad Joshi on Wednesday said it is too early to predict whether the prices of petroleum products would be increased because of the evolving situation in West Asia.
Joshi told the media that the prevailing situation in the Gulf region would naturally impact India. But Minister of Petroleum and Natural Gas Hardeep Singh Puri has already clarified that the country has petroleum reserves for slightly over 70 days, which could provide energy security for a while against the global supply disruption.
On other avenues for importing crude oil, including Russia, Joshi said officials in the commerce, petroleum and natural gas, and external affairs departments are in discussion over this issue. Whatever decision the government takes will be in the nation’s interest. It would be premature to comment on the increase in fuel prices, he added.
Reacting sharply to Congress’ allegation that the Narendra Modi government is mortgaging the country’s foreign policy to US President Donald Trump and not reacting to the assassination of Iran’s supreme leader Ayatollah Ali Khamenei, Joshi said people know who compromised the country’s interest in the past and which party had signed an understanding with China’s communist party.
On the reaction to Khamenei’s death, he noted that the government has taken a measured stand. Also Modi and External Affairs Minister Jaishankar have revealed the country’s stand by their statements. Stating that it is not the time to play politics on the sensitive issue, Joshi alleged that Congress is fishing in troubled waters. If the foreign policy of the government is weak, how would 37 countries sign a Free Trade Agreement with India, he asked.