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Petrol and diesel prices in India are unlikely to increase, unless and until crude oil prices breach USD 130 per barrel, government sources said on Monday.
The fuel prices are unlikely to increase as India has enough stock, the sources said. "We expect crude oil prices to be around USD 100 per barrel," one of the sources said. "No problem of shortage of petrol and diesel at any pump in country." They also said that sourcing crude other than the Strait of Hormuz route has been accelerated. Further, the said sources indicated that India has enough stock of Aviation Turbine Fuel (ATF). "India is a producer and exporter of ATF, no need to panic about ATF," they said. India, the sources said, is better placed than other countries. In order to stop hoarding and black marketing, the booking period for LPG gas has been increased from 21 to 25 days, the sources said. "There were instances that people who were earlier booking LPG cylinders in 55 Days have started booking cylinders in 15 days," they said. The government has ordered refineries to boost LPG output and also ordered to prioritise domestic LPG over commercial connections. "Domestic consumers will always be a priority," the sources reaffirmed, as India scouts for more LPG partners. Countries like Algeria, Australia, Canada, Norway have approached to sell LPG to India, they added. (ANI)
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