Petrol and diesel prices will not be increased for now despite international crude oil rates crossing USD 100 per barrel, government sources said on Monday, as authorities stepped up efforts to maintain uninterrupted fuel supplies across the country. ADVERTISEMENTTop government sources said there is no immediate plan to raise retail fuel prices and oil marketing companies are expected to absorb the current cost pressure for the time being. India has adequate stocks of crude oil and finished fuels to meet requirements for the next 6–8 weeks, they said. Sources said crude oil can be sourced from alternatives such as Russia, but replacing LPG supplies is more time-consuming as other sources are largely located in the United States and Canada. India imports about 88 per cent of its crude oil requirement, meaning higher global prices translate into a larger import bill and potential inflationary pressures.

Source: The Telegraph March 09, 2026 17:08 UTC