INDIA’S crude oil inventories remain adequate, with the government securing sufficient supplies for the next two months, said Sujata Sharma, Joint Secretary, Ministry of Petroleum and Natural Gas, on Wednesday during an inter-ministerial briefing amid the ongoing West Asia crisis.
Assuring stability in fuel supply, Sharma said, “Our refineries are operating at the highest levels. There have been no reports of any dry-out at retail outlets.
“Highlighting global price trends, she noted, “Around two months ago, Brent crude was trading in the range of $70 per barrel, and today it has crossed $100 per barrel.”
Despite this sharp rise, she emphasised, “No increase has been made in petrol and diesel prices for domestic consumers.
“She added, “Petrol and diesel prices have not been increased since 6 April 2022, and in March 2024, prices were reduced by Rs2, which continues to remain in effect.”
On government measures, Sharma said, “To protect domestic consumers from international price volatility, the Government of India reduced excise duty to ensure that there is no increase in prices.”
ANI
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