Fuel Prices: A Comparative Analysis of Global Trends and Indias Resilience

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Himanshu Tiwari

Fuel Prices: A Comparative Analysis of Global Trends and Indias Resilience

Ludhiana, June 13: In a recent address in Ludhiana, Punjab, Union Minister of Petroleum and Natural Gas Hardeep Singh Puri discussed the achievements of the Modi government over the past 12 years, focusing on fuel prices, welfare schemes, and the political landscape of the BJP. He highlighted that despite significant global increases in fuel prices, India has managed to reduce petrol prices by 3.1% during this period.

Puri noted that between May 2022 and May 2026, petrol prices surged by 70% in Pakistan, 66% in Sri Lanka, 47% in France, 46% in Italy, 36% in Bangladesh, and 35% in the United States. In stark contrast, India has seen a decrease in petrol prices, which he attributed to the effective policies of Prime Minister Modi.

He explained that petrol and diesel prices are influenced by various factors, including international crude oil prices, insurance and freight costs, refining processing costs, refiner margins, central excise duties, and state VAT.

Discussing Prime Minister Modi’s leadership, Puri remarked that Modi recently became the longest-serving elected Prime Minister, surpassing the record of Jawaharlal Nehru. He emphasized that this milestone is not just historical but also an opportunity to evaluate the developmental achievements over the last 12 years.

Puri stressed that the core of Modi’s policies is a commitment to the common citizen and emotional engagement, which is evident in all government schemes. He expressed optimism for the future, stating, “The best is yet to come.”

Highlighting the Swachh Bharat Mission, Puri mentioned that over 11 crore toilets have been constructed since its inception in 2014, significantly benefiting women and girls by ensuring dignity and safety.

Additionally, under the Pradhan Mantri Awas Yojana, nearly 4 crore affordable homes have been built, with an announcement for 3 crore more homes after Modi’s potential third term in 2024. Notably, many of these homes are owned by women and daughters.

On political matters, Puri asserted that the BJP is currently the largest political party in India and the world. He firmly stated that any attempts to form alliances as junior partners would not be accepted.

Commenting on the political situation in West Bengal, he acknowledged the complex historical context and stated that he had closely observed the conditions during his previous responsibilities in the state.

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