Government sources reassured the public on Saturday that there will be no hike in petrol and diesel prices, citing an improvement in India’s energy stock and enhanced supply stability. The officials highlighted that the country’s efforts to diversify crude oil imports have reduced reliance on vulnerable routes, with a shift towards sourcing 70% of crude oil from non-Strait of Hormuz suppliers, up from 60%. This move has contributed to stabilizing supply chains, with the first cargo already en route through the Strait of Hormuz.
Responding to concerns raised by opposition parties regarding potential price increases, government sources dismissed the claims as unfounded. They clarified that the earlier assurance pertained specifically to petrol and diesel, not LPG, emphasizing that the prices of the former will remain unchanged. The government is also actively managing LPG production to ensure ample supply, despite a gradual Rs 110 increase in LPG cylinder prices over the past 12 years.
Emphasizing a commitment to monitor and stabilize fuel supplies and prices, officials reiterated that the government is diligently overseeing the energy situation. They underscored ongoing efforts to prioritize LPG production to meet demand and maintain pricing stability, affirming that petrol and diesel prices will not see an increase in the foreseeable future.
