India's Fuel Stability Amid Global Turbulence: No Price Hikes Anticipated

In a potential relief to consumers, India is not expected to witness any hikes in petrol and diesel prices unless crude oil rates soar past USD 130 per barrel, according to government sources on Monday. Currently, India's fuel reserves are ample, with projections indicating stable crude prices hovering around USD 100 per barrel.

A source expressed confidence in managing the supply, stating, "We expect crude oil prices to be around USD 100 per barrel." India is mitigating risks of supply disruptions by expanding crude sourcing beyond the Strait of Hormuz.

Furthermore, India boasts enough supply of Aviation Turbine Fuel (ATF), dismissing any panic regarding a shortage. The nation has also been exploring new gas vendors, with recent offers from Australia and Canada amid the West Asia conflict. Negotiations are ongoing with key oil producers and organizations to ensure steady crude and LPG supplies.