Discounts on Russian crude not as much today as when crisis started: Puri

“We have navigated our way through this global turbulence, by that I mean, the problems in the energy market were there already, before February 2022 in terms of the Russia-Ukraine crisis. We bought from wherever we could. We consume 5 million barrels of crude oil in a day. We used to buy from 27 sources earlier, today we buy from 39 countries,” he said.

The minister said the government had worked to maintain “affordability and availability” of petrol and diesel through the crisis. Prime Minister Narendra Modi had personally monitored the situation and ordered reduction in Central excise rates on petrol and diesel twice, he said.

Asked about European countries buying the refined products from India, Puri said: “Ask them what they are buying from Russia”.

He said OPEC (Organization of the Petroleum Exporting Countries) had reduced production from 102 million barrels a day to 96-97 barrels. “At the end of the day, OPEC has to sell and Russia has to sell. The big discounts you were talking of, they were there in the beginning (of the crisis). Then they started raising prices and we started diversifying. Today, the discounts are not that much.”

Asked whether the petrol and diesel prices would be reduced, Puri said it was dependent on global prices. “If the world prices do not shoot up, then it is a possibility,” the minister said.

He said the Opposition-ruled states had not reduced VAT on petrol and diesel like the BJP-ruled states. “The only parts of our political system which talk about high petrol and diesel prices are the ones who have not reduced their VAT. For example, in July 2023, in Guwahati petrol retails at Rs.98/litre, in nearby Kolkata it retails at Rs.106/litre,” he said.

Manipur

In response to a question about the Manipur unrest, Puri said the government was ready for a discussion in Parliament.

“In democracy, the Opposition must be allowed to speak. But I think they’ve made up their minds that they’re going to be in the Opposition for all their lives. The value of Parliament is their ability to put us on the mat. What has happened is that we have offered to have a discussion and this is such a good opportunity that if you want a discussion on Manipur, we are ready for it. But they are laying pre-conditions,” he said, referring to the Opposition demand for the PM’s statement in the House.

Speaking about the changes in foreign and trade policy in the nine years of the Modi government, Puri, a retired diplomat, said India had the “capacity for heavy lifting” now. He said earlier, Free Trade Agreements were loosely worded.

“Every government has good intentions. I have never been of the view that previous governments didn’t have good intentions. But sometimes the way to hell is also paved with good intentions. You must have a vision for yourself, for your country and your ability to take that forward,” Puri said.

On the issue of some states offering “freebies”, Puri said subsidies should be targeted and not end up becoming “entrenched”.