India Shields Consumers Amid Rising Global Oil Prices

Despite international crude oil prices surpassing USD 100 per barrel due to conflict in West Asia, India will not increase domestic petrol and diesel prices. The government is monitoring the global market situation, ensuring adequate supply lines, and altering LPG refill policies to prevent hoarding.

Despite a surge in international crude oil prices due to mounting tensions in West Asia, Indian authorities have decided not to raise domestic petrol and diesel prices for now, according to top government sources. This decision comes as efforts intensify to maintain steady fuel supply chains nationwide.

The government reported that India's oil marketing companies would absorb current cost pressures and not pass them on to consumers immediately. This approach aligns with the country's ongoing strategy of safeguarding consumers from volatile fuel prices by allowing firms to build margins when prices dip globally and absorb costs when they soar.

Alongside fuel price stability, the government has revised the policy for booking domestic LPG refills, extending the minimum gap from 21 to 25 days to prevent hoarding. These steps ensure that despite international disruptions, India's energy supply remains consistent and consumers are protected.

(With inputs from agencies.)