India's Oil Prices Remain Volatile Amid Global Concerns
India's oil prices have been volatile due to concerns over global crude oil prices and supply disruptions. Brent crude is currently standing at $100 per barrel. CNG prices in Delhi and neighboring cities have increased, while LPG prices remain a concern amid uncertainty over supplies.
The government has approved an incentive scheme for city gas distributors to increase domestic PNG connections from September 1, 2026, as part of efforts to cut subsidy expenditure. States and Union Territories have been asked to provide district-level administrative support to speed up the shift from LPG to piped gas.
India is also turning to the United States for LPG and LNG supplies amid disruptions in West Asia. Oil prices jumped after markets reopened, following developments that threaten supplies from Saudi Arabia's 1,200-km east-west pipeline, which was damaged in drone strikes on September 11.