How does India's import of oil from Russia impact domestic fuel price according to Shringla
India’s import of oil from Russia has helped stabilise domestic fuel price according to Shringla
- India's import of oil from Russia provides a diversified source of energy, reducing dependency on a single supplier.
- Stable and consistent oil imports from Russia contribute to a steady supply of crude oil for India's domestic fuel requirements.
- Competition among different oil suppliers, including Russia, can help in negotiating better prices for imports, potentially leading to stable domestic fuel prices.
- Having multiple sources of oil imports, such as Russia, can help mitigate the impact of geopolitical tensions or disruptions in any one supplier country on domestic fuel prices.
- The relationship with Russia in the energy sector can provide India with strategic advantages in ensuring a secure and reliable energy supply for the country.
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a year ago