India only country where petrol, diesel prices declined: Petroleum min Puri

Union Petroleum and Natural Gas Minister Hardeep Singh Puri on Monday said India is the only country where rates of petrol and diesel have come down between November 2021 and April 2024.

Replying to various queries during Question Hour in Rajya Sabha, the minister also informed that the government is encouraging dialogue between Oil Marketing Companies (OMCs) and dealers regarding margins for the latter.

Puri noted that petrol and diesel were deregulated during the UPA government.

Deregulation means that prices of the commodity in the market are not set by the government, he added.

"Prices here being high and elsewhere being low. It's exactly the opposite. In India today, the prices are the lowest and is the only country where prices have actually come down," Puri said.

He attributed this to very bold, ambitious and farsighted decisions taken by the Prime Minister.

"The prices in the world, I am giving you a two-year reference period between November 2021 and April 2024. Why I'm