As stable economy, let’s not give knee-jerk reactions: Dharmendra Pradhan on fuel price hike

Updated:3 months, 1 week ago IST

New Delhi, Sep 08 (ANI): Union Petroleum and Natural Gas Minister Dharmendra Pradhan addressed mediapersons on fuel price hike being experienced throughout India. Speaking on the same, Union Minister said, “Today Indian currency is stronger as ever, in comparison to all other currencies. But how do we purchase oil? Through Dollars. Today Dollar is, in a way, world’s biggest exchange currency. That is creating problem for us.” He further said, “OPEC had assured world community, from July 1 they will produce 1 million metric ton per day, additional production will be there. As per July-Aug statistics, target isn’t being compiled. Issues of Iran, Venezuela and Turkey creating pressure on oil production. These factors aren’t in India’s hands. I think today there is a small downslide in the freight price. As a stable economy, fastest growing economy, let’s not give knee-jerk reactions. Let’s wait.”

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