India Fortifies Fuel Supplies Amid Global Uncertainties

India's fuel prices are stable due to sufficient reserves, as crude oil remains under $130 per barrel. No fuel shortages are expected. LPG booking has been adjusted to prevent hoarding. India is enhancing crude sourcing routes and prioritizing domestic LPG supply amid growing international supplier interest.

India's fuel prices, both petrol and diesel, are projected to remain stable unless global crude oil prices surge beyond USD 130 per barrel, government sources revealed on Monday. Thanks to substantial reserves, the nation faces no imminent threat of fuel shortages.

Official sources expect crude oil prices to hover around USD 100 per barrel. India is proactively diversifying its crude sourcing routes beyond the traditional Strait of Hormuz to secure its energy needs, they disclosed.

The country's Aviation Turbine Fuel (ATF) supplies are robust, given that India is both a producer and exporter, government insiders assured, adding that India's position is significantly more advantageous than that of many other nations.

In a bid to curb hoarding and black marketing, the government has extended the LPG booking interval from 21 to 25 days. There were reports of consumers previously booking LPG cylinders infrequently now seeking them every 15 days, prompting this policy adjustment.

Refineries have been instructed to increase LPG output, with a focus on prioritizing domestic demands over commercial needs. As India forges new LPG partnerships, countries such as Algeria, Australia, Canada, and Norway have shown interest in supplying LPG to India, according to sources.

(With inputs from agencies.)