New Delhi, March 07: The government on Saturday said petrol and diesel prices will not be increased, citing improving energy stock levels and a stabilising global supply situation.
Government sources said India’s current energy stock position has strengthened, giving authorities greater confidence in managing domestic fuel supplies despite recent global market volatility.
Officials also highlighted the country’s efforts to diversify crude oil imports to reduce reliance on vulnerable shipping routes such as the Strait of Hormuz.
According to the sources, earlier about 60% of India’s crude imports originated from suppliers outside the Strait of Hormuz route, but that share has now increased to around 70%, helping mitigate potential supply disruptions.
They added that the first cargo shipment has already resumed movement through the Strait of Hormuz, indicating signs of stabilisation in global supply flows.
The clarification came after opposition parties alleged that fuel prices could rise amid global energy market tensions. Government sources dismissed the claims as baseless.
Officials stressed that the earlier assurance related specifically to petrol and diesel prices and did not apply to liquefied petroleum gas (LPG).
“Petrol and diesel prices will not increase,” the sources reiterated, adding that the statement was not connected to LPG pricing.
