India maintains lower fuel prices than neighbours amid global volatility: Centre

The Centre on Tuesday stated that India continues to maintain relatively lower fuel prices compared to neighbouring countries despite the rise in global crude oil and LPG prices.

Addressing an inter-ministerial briefing in the national capital on recent developments in West Asia, Sujata Sharma, Joint Secretary in the Ministry of Petroleum and Natural Gas, said that despite sharp increases and volatility in global prices, India has managed to keep domestic fuel prices comparatively lower than those of its neighbours.

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“Our prices among neighbouring countries are among the lowest,” she said.

Highlighting the impact of the West Asia crisis, Sharma noted that global energy markets have turned volatile, with the Indian crude basket rising from about $63 per barrel in January to $113 in March and approximately $116 in April. Despite this surge, domestic LPG supply remains stable with no reported shortages.

She added that commercial LPG supply has recovered to around 70 per cent, with 1.23 lakh tonnes sold in the last 20 days and 8,822 tonnes supplied in a single day.

Sharma further stated that domestic PNG supply and CNG transport continue to remain stable, with over 5.68 lakh new PNG connections added and more than 39,400 consumers shifting from LPG.

“More than 39,400 PNG consumers have surrendered their LPG connections. Retail supply is normal. No dry-outs of any product have been reported at petrol pumps. Our prices remain among the lowest compared to neighbouring countries,” she said.

She urged the public not to believe in rumours or resort to panic booking, assuring that sufficient supplies are available.

“Retail fuel supply remains normal with no shortages. Around 1,000 tonnes per day of C3 and C4 molecules are being supplied, and about 4,400 tonnes of propylene have been sold since 9 April,” she added.