India Keeps Fuel Prices Steady Amid Global Crude Price Surge

The Indian government has taken steps to stabilize fuel prices in major cities despite a recent surge in global crude oil prices. Brent crude rose to $88.52 per barrel this week, but gasoline and diesel rates in Delhi and Mumbai remained unchanged. To manage the impact of price swings, the government reduced export taxes on diesel and aviation fuel and eliminated them for gasoline exports starting August 15.

This move aims to ensure a steady supply of fuel at home while international markets remain unpredictable. The decision is part of the regular review process to balance domestic needs with global market fluctuations.