Fuel costs cannot be managed until India raises its oil production, according to a Union minister.

Union Minister Rameswar Teli said on Wednesday that petrol and diesel prices cannot be regulated until India boosts oil output, citing the country's reliance on the foreign market for fuel. We import almost 83 percent of the oil utilised in the country. We are reliant on the worldwide market, and its price cannot be regulated until we expand our output On the sidelines of an event here, the minister of state for petroleum and natural gas stated.

"When the price of oil rises in the international market, our firms raise their pricing," he told reporters when questioned about the increase in fuel and diesel prices.

The minister was in town for an event at the Rajiv Gandhi Institute of Petroleum Technology.

He stated, "We are attempting to lessen the import burden on oil. We are also developing electric and Compressed Natural Gas (CNG) cars, as well as innovative transportation methods."

On the occasion, the minister also presented mobile phones to 200 deserving students and honoured 75 persons from all walks of life.

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