High energy cost transfer 'inevitable' to users: Finance ministry The Union Finance Ministry has stated that it is "inevitable" for countries to pass on higher energy costs to households and industries, emphasizing that this process is already underway in some nations. In its monthly economic review, released on Wednesday, the ministry noted that while certain countries have begun allowing energy price increases to be passed on to end-users, others have not. However, it warned that this transfer is unavoidable, particularly during periods of supply disruption. The ministry highlighted that without a moderation in demand, countries risk paying significantly higher prices for energy supplies in the long term. The review also called for maintaining macroeconomic stability, cautioning that any attempts to artificially boost near-term growth could jeopardize medium- to long-term economic prospects. The ministry further suggested that the challenges posed by the energy crisis will persist for an extended period, as restoring energy supplies will take time. It criticized international agencies for assuming a rapid return to normal energy production and shipping, pointing out that such forecasts often overlook the time required to rebuild production capacity and resume global trade. The ministry warned that energy prices may remain elevated for an extended period. India's crude oil basket averaged $113 per barrel in March, with prices just under $115 per barrel in April. According to an ICRA report, marketing margins for petrol and diesel are currently estimated at negative Rs 14 per litre and Rs 18 per litre, respectively. The report also noted that domestic LPG under recoveries are projected to reach Rs 80,000 crore for the fiscal year 2027.#energy_security #strategic_reserves #union_finance_ministry #icra_report #fiscal_year_2027
Our national interest, including energy security & trade flows, will always be paramount: EAM Jaishankar tells Parliament #national_interest #energy_security #EAM_Jaishankar #trade_flows #including_energy
'Let us do it together': Rahul Gandhi cuts in as minister Ashwini Vaishnaw speaks - watch Rahul Gandhi accused the Centre of "selling out Bharat Mata" and compromising India's energy security and farmers' interests through an interim trade deal with the US. He alleged the deal amounted to a "wholesale surrender," with the US dictating India's oil purchases and monitoring its finances. Gandhi's claims were met with objections from treasury bench MPs. #Rahul_Gandhi #Ashwini_Vaishnaw #energy_security #Bharat_Mata #watch_Rahul #Vaishnaw_speaks #minister_Ashwini #compromising_India #India_energy #farmers'_interests
Open to exploring oil supplies from Venezuela: Govt “Consistent with India’s approach to energy security, India remains open to exploring the commercial merits of any new crude supply options, including from Venezuela,” said the official. On India’s energy sourcing, the official recalled that govt had stated publicly on several occasions that ensuring the energy security of 1.4 billion Indians was the supreme priority of govt. #India #Venezuela #supply_options #exploring_oil #remains_open #India_remains #oil_supplies #commercial_merits #crude_supply #energy_security
