A slim hope of fuel prices remaining reasonable in India

Fuel prices
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India, Saudi Arabia hold discussions to ensure fuel prices remain reasonable in the current oil market situation

Sharat K Verma

The Hush Post, New Delhi: There is a hope, though very slim, of fuel prices remaining reasonable in India. India and Saudi Arabia have held telephonic talks to discuss that oil prices remain reasonable in the current oil market situation.

On Friday,  Saudi Arabia’s Minister of Energy, Industry, and Mineral Resources Khalid al-Falih called up Union Minister of Petroleum and Natural Gas Dharmendra Pradhan to discuss continued joint cooperation between the two countries and in particular the current oil market situation.

The Ministry of Petroleum & Natural Gas said that Minister Pradhan expressed his concern about rising prices and its negative impact on consumers and the Indian economy. Pradhan emphasized his desire for stable and moderate prices.

The Ministry said al-Falih assured Pradhan that supporting global economic growth is one of the Saudi Arabia’s key goals. He reiterated his commitment towards stable supplies and that the Saudi Arabia together with other producers will ensure availability of adequate supplies to offset any potential shortfalls and ensure that prices remain reasonable.

Pradhan’s discussions with Saudi Minister al-Falih are among his efforts of holding consultations with regard to fuel prices with colleagues from major oil producing countries both inside and outside of OPEC (Organization of the Petroleum Exporting Countries), including Alexander Novak, Minister of Energy, Russia and Suhail Al Mazroui, Minister of Energy of the UAE who is also the President of the OPEC Conference.

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