New Delhi, March 27 -- union Minister for Petroleum and Natural Gas, Hardeep Singh Puri, on Friday said the government has chosen to absorb the financial impact rather than pass on the full burden of rising fuel costs to consumers.
Taking it to a social media post on X, Puri said international crude prices have surged sharply over the past month, rising from around $70 per barrel to about $122 per barrel. As a result, petrol and diesel prices have increased globally.
The minister noted that prices have risen by 30-50 per cent in Southeast Asian countries, around 30 per cent in North America, 20 per cent in Europe, and about 50 per cent in African countries.
"The government had two options in response to the spike in crude oil prices: eit...