Amid surging energy prices due to the wider Middle East conflict that was triggered by the US-Israeli strikes on Iran, the Centre is unlikely to raise fuel prices.
According to government sources, India sits on 25 days of crude oil and refind oil stocks and scounting for alternative spurces for importing ceude, LPG and LNG.
“India has 25 days of crude oil and refined oil stocks. Scouting for alternative sources for importing crude oil, LPG and LNG,” the sources said, according to ANI
They further added that there is no immediate plan to raise the prices of Petrol-Diesel.
The US-Israeli strikes on Iran, killing the country’s Supreme Leader Ayatollah Ali Khamene, has triggered a wider conflict in the Middle East.
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In response, Iran launched attacks on Israel and US targets in several Gulf nations. Iranian strikes forced Qatar to halt LNG production. Iran also targeted Saudi oil refinery, disrupting the global LNG and fuel production.
Iran also warned that it would “set fire” to anyone trying to pass through the key Strait of Hormuz shipping route, leading to a surge in the gas and oil prices.