'Unless it breaches $130...': No petrol & diesel price hike, priority to domestic LPG supply: Govt

The adverse effects of the West Asian conflict can be felt in many parts of the world as the war has left the price of oil soaring in its wake. However, the government of India has laid common man's fears to rest and assured there are no plans to raise the retail prices ‌for ‌gasoline and diesel ‌as ‌of now.

According to Reuters, India is ⁠not ‌planning ​to release oil reserves in ​coordination ⁠with the International Energy Agency.

Government Sources have told ANI that unless crude oil prices breach $130, petrol-diesel prices are unlikely to increase. The government expects crude oil prices to be hover around $100 per barrel.

They have reassured that there is no problem of shortage of petrol and diesel at any pump in the country and they have also accelerated crude sourcing from routes outside the Strait of Hormuz.

Moreover, India has enough stock of Aviation Turbine Fuel (ATF) and is a producer and exporter of ATF (Aviation Turbine Fuel).

"India is better placed than other countries. Many countries have approached India for taking stock," the sources said.

The government said in a bid to stop hoarding and black marketing, LPG booking period has been increased from 21 to 25 days.

"There were instances where people who were earlier booking LPG cylinders in 55 Days has started booking LPG cylinders in 15 days," sources said.
The government said that they have ordered refineries to boost LPG output and give priority to domestic LPG over commercial connections. Moreover, countries like Algeria, Australia, Canada, Norway have approached to sell LPG.

This comes even as domestic cooking gas LPG price was hiked on Saturday by a steep Rs 60 per cylinder, the second increase in rate in less than a year, as the spike in global energy rates following the West Asia crisis weighed on the world's third largest energy consumer.

Price hike regarding LNG is unlikely for domestic consumers, the government said and further added that, "To keep supply chain intact LNG for industrial use will be diverted for domestic use"

There will be no rationalisation for domestic consumers.