Green hydrogen is the ‘fuel of the future’, with the capacity to bring fuel prices down, said Union Petroleum Minister Hardeep Singh Puri in an exclusive interview to CNN-News18.
“Green hydrogen will succeed
in India because it has the scale,” Puri said in the interview.
Referring to the global energy disruptions triggered in February 2022 and February 2026, Puri said the events were beyond India’s control and unlike anything the world had witnessed before.
“These events were not of our making. The world had never seen anything like this. The question was how to navigate these crises while protecting consumers,” he said.
According to Puri, India has managed to shield consumers from the full impact of global oil price shocks through strategic diplomacy and diversification of energy sources.
“Outstanding statesmanship played a key role. The Prime Minister remained in touch with world leaders and struck agreements at the highest levels. We diversified our sources of energy supplies,” he said.
The minister noted that India currently imports energy from 41 countries, helping reduce dependence on any single supplier.
Highlighting recent disruptions in the Strait of Hormuz, Puri said India managed the situation despite significant risks to its energy imports.
“Nearly 60 per cent of our LPG imports and around 90 per cent of our crude oil imports move through the Strait of Hormuz. Even when disruptions occurred and oil prices rose to around $105 per barrel, we were able to minimise the impact on consumers,” he said.
“Protecting consumers is not just an article of faith for Prime Minister Modi; it is reflected in policy decisions,” Puri added.
Targeting the opposition over fuel price criticism, Puri said accusations regarding high petrol and diesel prices ignored the role of state-level taxes.
“When fuel prices rose during their tenure, they reacted differently. Today, they continue to make allegations. If petrol and diesel prices are higher in opposition-ruled states than in BJP-ruled states, it exposes the absurdity of those allegations,” he said.
Puri argued that India’s energy strategy has helped maintain stability despite a volatile global environment.
“The Prime Minister has demonstrated how to navigate global crises with minimum impact on citizens. We are not badly off, even though the global situation remains worrisome. India enjoys a significant degree of energy autonomy and sovereignty,” he said.
The minister also rejected suggestions that fuel prices were being managed with elections in mind.
“India held the 2024 general elections and several state elections, including Maharashtra and Haryana, yet fuel prices did not increase. That itself demonstrates our commitment to keeping prices stable,” Puri said.
