The Government of India has decided to review petrol and diesel prices every 15 days. This step comes as global crude oil prices have increased due to the ongoing tensions in West Asia.
A senior official said that fuel prices may change more frequently in the coming weeks, depending on how the global situation develops. The government wants to stay flexible and respond quickly to changes in the international oil market.
Vivek Chaturvedi, Chairman of the Central Board of Indirect Taxes and Customs, spoke about the issue during an inter-ministerial meeting. He explained that the current situation is not normal, as global events are strongly affecting oil prices.
He said that problems such as disruptions in shipping routes, supply chains, and oil availability have pushed prices higher. Because of this, the government is closely monitoring the situation.
The government is trying to take a balanced approach. It wants to protect consumers from sudden price increases while also managing the country’s finances. At the same time, it is considering the financial health of oil marketing companies.
Officials said that this careful strategy will help the country handle uncertainty in the global energy market. The review system will continue as long as the situation remains unstable.