Adequate stock of petrol, diesel and LPG in the country, prices will not increase at present. According to sources in the Petroleum Ministry, orders have been issued to all refineries to give priority to LPG for domestic use rather than commercial or industrial use. Domestic consumers will be given priority over commercial or industrial use.
According to sources in the Petroleum Ministry, there will be no increase in the prices of petrol and diesel in the near future. India has sufficient stock in strategic reserves. No restrictions have been imposed on exports. At present there is no proposal to reduce duty on petroleum products. India is in a better position than many other countries.
Adequate stock of petrol, diesel and LPG in the country
Many neighboring countries are demanding fuel from India, which includes countries like Philippines, Mauritius, Bangladesh. Also take a look at what is happening in Pakistan. The waiting time for booking on LPG has been increased from 21 days to 25 days, so that hoarding can be prevented. India has adequate stock of aviation turbine fuel. We are also its producer and exporter.
There is no possibility of resumption of supply through the Strait of Hormuz in the near future. We will have to wait and see how the situation develops. It is expected that the price of crude oil will remain around $100. Its impact on Indian consumers will be different from that on American consumers.
no need to panic
According to sources in the Petroleum Ministry, every petrol pump in India is open and working. There is no need to panic. All refineries have been instructed to increase the production of LPG. We do not see the possibility of crude oil price going above $120-140.