Fuel Prices Remain Stable in India Amid Global Oil Surge, Expert Reports

India managed to keep fuel prices comparatively stable even as the international crude market experienced a sharp climb following the Iran‑Israel confrontation. According to former ONGC exploration head Sushma Rawat, the government’s swift action ensured that retail diesel and petrol did not see the dramatic spikes observed in several other economies.

Rawat highlighted that while crude oil touched $120 a barrel, India’s domestic fuel rates were raised by only about 2‑3 percent. She credited the decision to a policy aimed at protecting consumers from excessive economic burden, especially in a nation with over 30 million LPG households.

The official also pointed out that the country’s energy security has improved due to an expanding renewable portfolio—now representing 51 percent of total installed generation capacity—and the early achievement of a 20 percent ethanol blend in gasoline.