India reportedly saved Rs 35,000 crore on discounted Russian oil while fuel prices remain unchanged

India’s three state-owned oil firms which supply 90 per cent of the country’s fuel suffered a record Rs 18,000 crore loss in the first quarter of 2022. This was a consequence of the government not raising prices till UP election results in March, despite crude rates increasing globally. But by defying western pressure to import Russian oil at discounted rates since February this year, India has already saved Rs 35,000 crore.