Threat of Covid responsible for hike in crude oil price: Union minister Dharmendra Pradhan

Union Minister Dharmendra Pradhan said on Sunday that the threat of Covid is responsible for the hike in crude oil prices.

Union Education Minister and BJP Uttar Pradesh's election in charge Dharmendra Pradhan said that the threat of Covid-19 has paralysed the global economy for nearly two years. “This resulted in almost no investment in the petroleum sector for two years, causing crude oil prices to skyrocket,” he said.

Dharmendra Pradhan said that petroleum products must be imported because India has limited domestic production. Despite the high cost of imports, the government has increased welfare schemes for the poor.