India holds petrol and diesel prices steady despite U.S.-Iran conflict
Even though oil prices worldwide have shot up (thanks to the U.S.-Iran conflict), India isn't raising petrol or diesel prices for now.
Petrol in Delhi is still ₹94.77 per liter and diesel is ₹87.67 per liter; Mumbai's rates are a bit higher, but unchanged.
India cuts fuel excise duty ₹10
To help out consumers, the government recently slashed excise duty by ₹10 per liter on both fuels, even though public-sector oil companies are losing big money (₹26 per liter on petrol and nearly ₹82 per liter on diesel).
Refineries are functioning at a higher rate to ensure ample supply across the country, despite some panic buying sparked by rumors.
The oil ministry says there's no need to worry about shortages and is also boosting LPG and CNG supplies just in case things get rough globally.