New Delhi: Amid escalating tensions in West Asia and increasing volatility in global crude oil prices, the Parliamentary Standing Committee on Petroleum and Natural Gas is set to hold a crucial review meeting on May 15, 2026, in New Delhi to assess India’s domestic petroleum production, fuel availability, and transportation preparedness.
The high-level meeting comes at a time when concerns over energy security, supply-chain disruptions, and rising international oil prices continue to grow.
High-Level Meeting Scheduled in Parliament House Annexe
The meeting, chaired by Sunil Tatkare, will take place at the Main Committee Room (MCR), Ground Floor, Parliament House Annexe, New Delhi, from 11:00 am onwards.
Senior officials from multiple ministries, PSUs, and transport agencies have been asked to attend the review.
These include representatives from:
- Ministry of Petroleum and Natural Gas
- Oil Public Sector Undertakings (PSUs)
- Ministry of Chemicals and Fertilizers
- Fertilizer PSUs
- Ministry of Railways
- Konkan Railway Corporation Ltd.
- Ministry of Ports, Shipping and Waterways
- Jawaharlal Nehru Port Authority
First Session to Focus on Fuel Transportation Safety
According to the official agenda, the first session from 11:00 am to 12:00 noon will focus on:
“Safety and Security in Transportation of Petroleum Products”
Officials are expected to brief the committee on:
- Fuel transportation preparedness
- Security mechanisms in logistics operations
- Rail and port coordination
- Supply-chain resilience during geopolitical disruptions
The discussion gains significance amid fears that instability in West Asia could affect global oil movement and shipping routes.
Second Session to Review Domestic Petroleum Production
The second session, beginning at 12:00 noon, will examine:
“Domestic Production of Petroleum Products”
The committee is expected to review:
- India’s refining capacity
- Domestic fuel production trends
- Petroleum product availability
- Supply-chain preparedness
- Fertilizer sector dependence on petroleum inputs
Officials from oil PSUs and Rashtriya Chemicals and Fertilizers Limited are expected to present operational assessments.
Global Crude Oil Volatility Under Spotlight
The review assumes added importance as crude oil prices remain highly volatile due to continuing geopolitical tensions in West Asia.
According to market trends:
- Brent crude recently crossed $102 per barrel
- U.S. West Texas Intermediate (WTI) crude rose above $96 per barrel
- Brent crude later eased to around $99.11 per barrel on Thursday
The fluctuations have intensified concerns over India’s fuel import bill and domestic pricing stability.
Retail Fuel Prices Remain Unchanged
Despite rising global crude prices, retail fuel rates in India have remained unchanged in recent weeks.
Current Fuel Prices
- Delhi: Petrol Rs 94.77/litre, Diesel Rs 87.67/litre
- Mumbai: Petrol Rs 103.49/litre, Diesel Rs 90.03/litre
- Kolkata: Petrol Rs 104.99/litre, Diesel Rs 91.81/litre
- Chennai: Petrol Rs 100.79/litre, Diesel Rs 92.39/litre
Industry sources indicate that oil marketing companies are currently facing significant under-recoveries due to the gap between international crude prices and domestic retail rates.
Reports suggest:
- Petrol under-recovery: nearly Rs 14/litre
- Diesel under-recovery: around Rs 18/litre
Key MPs Part of the Committee
The Parliamentary Standing Committee comprises 31 members, including:
- Gurjeet Singh Aujla
- Benny Behanan
- Janardan Singh Sigriwal
- Amar Singh
- Dilip Saikia
- Kalanidhi Veeraswamy
- Dharmendra Yadav
- Manoj Kumar Jha
among others.
Energy Security
The upcoming parliamentary review is expected to play a crucial role in assessing India’s preparedness to handle potential disruptions in crude oil imports, refining operations, transportation logistics, and fuel supply amid ongoing geopolitical uncertainty in West Asia. The discussions may also shape future policy responses aimed at ensuring energy security and price stability.
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