As pump prices bite, Puri reasons with producers for affordable oil

High fuel prices are here to stay till crude prices come down, a top government policymaker said on Monday, adding India, as the world’s third-largest consumer, has been reasoning with producing countries that “anything above $70 per barrel (crude price)” could boomerang on them as it will retard global economic revival and hit oil demand, which is already facing headwinds from electric mobility.

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