India's Petrol Prices Go Against World Trends, Still Among Lowest in the World

Union Minister Hardeep Singh Puri today announced that petrol prices in India have fallen by 0.7% since 2022, whereas other nations experienced sharp rises. He pointed out that India is the sole country where fuel prices have fallen over the last three years due to government reductions in taxes and state-level VAT cuts. Puri underscored that higher world oil output, including from Brazil and the US, will likely continue to drive down energy prices globally. This process can help rein in inflation in India, which will benefit consumers as well as the economy. The minister also pointed towards the widening of subsidized gas connections under the Ujjwala scheme, which now covers 33 crore households.
Source: The Print