Parliamentary panel told India has 78 days of crude supply
India has enough crude oil stored to get by for 78 days, a parliamentary panel was told on Monday.
This update comes as the West Asia conflict continues to disrupt shipping routes and push global oil prices higher, which is making things pricier everywhere.
Gasoline now crosses ₹100
Gasoline and diesel just got more expensive, up by ₹2.61 and ₹2.71 per liter on Monday alone, marking the fourth price hike in less than two weeks.
Since May 15, that's nearly ₹7.50 extra per liter, with gasoline now crossing ₹100 in many cities.
FM Nirmala Sitharaman blames international costs
Finance Minister Nirmala Sitharaman explained that these price jumps are due to rising international costs (not changes in government policy) and reminded everyone that the government had previously cut taxes to help out consumers.
The government says there is still enough supply despite the hikes.