Petrol, diesel prices in India unlikely to go up soon
What's the story
The Indian government has no plans at present to release crude oil from its strategic petroleum reserves in coordination with the International Energy Agency (IEA), as per CNBC-TV18. The country's fuel supply position is stable and there are no immediate proposals to hike retail prices of petrol and diesel, the sources added.
Consumption control
No restrictions on fuel consumption
The Indian government is not considering any restrictions on fuel consumption at this stage. This indicates that the authorities believe the current supply levels are sufficient to meet domestic demand.
Supply enhancement
Increased LPG imports from US, Canada expected
To further strengthen the supplies, Indian energy companies are likely to import more liquefied petroleum gas (LPG) from the US as well as Canada. The Indian government has also assessed that the jet fuel inventories are sufficient. This assessment ensures that Indian aviation operations will not face any supply disruptions.