According to Puri, steps taken by the government, including “diversification of sources of (oil) imports”, ensured that the retail prices of petrol and diesel in India actually declined at a time when global oil and fuel prices were surging
Asia s imports of crude oil saw robust growth in January, reaching an eight-month high of 28.57 million barrels per day (bpd), led by top buyers China and India. China imported 11.31 million bpd, slightly below December s figure but well above the same month in 2023. China s imports from Russia surpassed those from Saudi Arabia, although Saudi Arabia increased its exports to regain market share in China. India, Asia s second-biggest importer, is on track for record imports in January, with arrivals of 5.33 million bpd.
Crude Oil Import: Asia s imports of crude oil saw robust growth in January, reaching an eight-month high of 28.57 million barrels per day (bpd), led by top buyers China and India. China imported 11.31 million bpd, slightly below December s figure but well above the same month in 2023. China s imports from Russia surpassed those from Saudi Arabia, although Saudi Arabia increased its exports to regain market share in China. India, Asia s second-biggest importer, is on track for record imports in January, with arrivals of 5.33 million bpd.
Congress spokesperson Gourav Vallabh accused the Modi government of being "high on political gimmick" and low on relief after the reduction in fuel prices.