India managed to buy cheap energy through timely measures – Hardeep Puri

Hardeep Singh Puri, Minister of Petroleum and Natural Gas, said India had managed to minimize and mitigate volatility in global crude oil and gas prices after several policy measures were put in place by the government.

Most developed countries saw energy price inflation rise by nearly 40% between July and August, while in India gasoline prices fell by 2.12%, a said the minister.

An official statement states that Henry Hub of the United States saw an increase of 140%, JKM Marker saw an increase of almost 257% and the United Kingdom, NBP increased by 281%. However, in India, CNG and PNG prices only increased by 71%.

Also read: India’s GDP growth climbs to 13.5% in April-June, its highest level in a year

Puri, who also unveiled the Indian Energy Week (IEW) 2023 logo, also noted that the importance of various social welfare schemes like Prime Minister Ujjwala Yojna and his role in eradicating poverty energetic, socially uplifting and as a catalyst for change cannot be stressed enough.

The IEW, the ministry’s flagship event, will take place from February 6 to 8 in Bangalore.

The IEW will be the first major energy event after India takes over the G20 presidency. The event will provide an unprecedented opportunity for regional and international leaders and CEOs to come together to share strategic policy and technical knowledge for energy justice and energy transitions, the Minister said.

Lee J. Murillo