New Delhi, March 27 -- Union ministers on Friday welcomed the Centre's recent measures to shield consumers from a potential spike in fuel prices amid the West Asia crisis, with Petroleum and Natural Gas Minister Hardeep Singh Puri describing India as an "oasis of energy security, availability and affordability" even as several countries resort to drastic fuel conservation measures in response to rising global crude prices.

Reacting to the government's decision to reduce excise duty on petrol and diesel, Puri said that while many countries have imposed strict fuel conservation measures and raised prices, India has prioritised affordability and supply stability.

"When rest of the world has been taking drastic fuel conservation measures su...