Fuel Prices in India: Why Government is not reducing fuel prices?

Опубликовано: 12 Март 2025
на канале: Keep it Simple

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This video is in Hindi and covers the following topics:

Fuel Prices in India: Why Government is not reducing fuel prices?
सस्ते Russian Oil का फायदा किसको हो रहा है?

The companies have been holding down pump prices of gasoline and diesel since early April to curb accelerating inflation

State-run refiners had a combined share of 90%+ in petrol and diesel

The combined share of private players-Reliance-BP, Shell and Rosneft-backed Nayara Energy is roughly 10%

India has paid Russia nearly $20 billion for oil in just seven months from April to October, more than what it paid in the last ten years combined.

Nearly three-quarters of cheap Russian oil is bought by private refiners, Reliance Industries and Russian controlled Nayara Energy

These companies buy the cheaper oil, refine it and sell it back at a big markup to European nations.

Nearly one-third of Reliance’s crude oil purchase is now from Russia, which was only at 5 per cent before the war began

This also means that public sector refiners such as Indian Oil Corporation, Bharat Petroleum and Hindustan Petroleum are getting only a small share of the Russian oil

But these public refiners are the ones that supply more than 90 per cent of the average Indian’s fuel needs. So, the companies that refine and export to other nations are earning profit

The government also imposed a ‘windfall gains’ tax on private companies that allegedly made huge export gains from crude oil refining