New Delhi: The Union government on Monday said petrol and diesel prices in India are unlikely to be raised as long as international crude oil prices do not cross $130 per barrel.
The statement comes amid concerns over supply disruptions linked to the ongoing conflict involving the US and Israel against Iran, which has tightened availability in global markets and pushed crude prices above $100 a barrel. The government said it expects prices to remain around $100.
Officials said the country has sufficient stocks of petrol and diesel and there is no shortage at fuel retail outlets. The government also said it is accelerating procurement through routes outside the Strait of Hormuz.
The Centre added that aviation turbine fuel is also available in adequate quantities, noting that India both produces and exports the fuel. It said India is managing the situation better than many other countries.
To curb black marketing of LPG cylinders, the booking interval has been increased from 21 days to 25 days. The government has directed producers to raise output, prioritise domestic household connections over commercial supply, and explore additional LPG import options, with Algeria, Australia, Canada and Norway approaching India to sell gas. It also said domestic consumers are unlikely to face a price hike for LNG, and steps are being taken to avoid supply disruptions.
