The order, issued by the government, limits the sale of motor spirit (petrol) and high-speed diesel (HSD) at retail outlets and will remain effective for an initial period of up to 90 days unless modified or withdrawn through another directive.
“In the week ending May 1, the four-week average estimate of U.S. jet fuel production surpassed 2.0 million b/d for the first time on record.”
The reassurance comes at a time when several regions have witnessed increased demand for diesel during the harvesting season, leading to higher sales volumes at some retail outlets.The reassurance comes at a time when several regions have witnessed increased demand for diesel during the harvesting season, leading to higher sales volumes at some retail outlets.
The decision was announced by US Treasury Secretary Scott Bessent, who said the move will help stabilise crude prices which have skyrocketed due to the disruptions in the Strait of Hormuz, a key shipping route in the Persian Gulf.
The tanker, identified as “Symi”, crossed the Strait of Hormuz on May 13 before arriving at the port in Kachchh district, underscoring the continued movement of commercial energy shipments through the strategically vital maritime passage despite rising geopolitical tensions in the region.
The increase follows a Rs 2-per-kg hike announced just two days earlier, taking the total jump in CNG prices to Rs 3 within a span of 48 hours.
“First came the corona(virus) pandemic; then wars began to break out, and now there is an energy crisis. This decade is turning into a decade of disasters for the world,” PM Modi said.
US investigators are reportedly examining Iran-linked cyber activity as a key line of inquiry due to Tehran’s previous record of targeting fuel and utility infrastructure. Sources quoted in media reports said the pattern of the attacks resembles earlier operations attributed to Iranian hacking groups.
The Minister categorically stated that retail fuel prices in India have remained unchanged over the last four years despite mounting geopolitical pressures and global market volatility.
These measures, according to the Prime Minister, will reduce consumption of petroleum products like petrol, diesel and gas and reduce dependency on foreign currency.
