NEW DELHI: Rising fuel prices in India are creating a crisis for both the central government and the people. High taxes imposed by govt in the country is one of the main reasons for the increase in petrol prices in India, but the government cannot reduce taxes. This is because of the huge financial crisis caused by Covid.

But now there is a solution for the central government to control the price of petrol and diesel in the country without giving tax deductions. Russia has promised to supply oil to India at lower rates as global oil prices soar. Following the Russian occupation of Ukraine, several countries, including the United States and the European Union, have imposed sanctions on Russia's oil imports.

Although India does not import oil from Russia, this is not the case in European countries, including Britain. At present, Russia promises to supply Russian Brent oil to India with 25 to 27 per cent discount. India fears that entering into a new agreement with Russia as long as the US sanctions remains will create hatred towards US. Therefore, entering into an agreement with Russia is a major challenge for India.