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India Assures No Petrol, Diesel Price Hike, Diversifies Oil Imports

Government sources have firmly stated that petrol and diesel prices will not increase, countering opposition allegations. They cite an improving national energy stock position and a stabilization of supply flows, with the first cargo already moving through the Strait of Hormuz. India has actively diversified its crude oil imports, reducing dependence on the strategic shipping route from 60% to about 70% of imports from other sources. While focusing on petrol and diesel price stability, the government is separately working to reprioritize LPG production to ensure adequate cooking gas supply.

Key Points: No Petrol, Diesel Price Increase, India Diversifies Oil Imports

  • Fuel price stability assured
  • Energy stock position improving
  • Crude import diversification reduces risk
  • First cargo moves via Strait of Hormuz
  • LPG supply being reprioritized
2 min read

Petrol, diesel prices will not increase, 1st cargo moves from Strait of Hormuz: Govt sources

Govt sources assure petrol & diesel prices won't rise, cite improved energy stocks & diversification of crude oil imports away from Strait of Hormuz.

Petrol, diesel prices will not increase, 1st cargo moves from Strait of Hormuz: Govt sources
"Today we again assure that prices of Petrol and Diesel will not increase. - Government sources"

New Delhi, March 7

Government sources said on Saturday that petrol and diesel prices will not increase, adding that India's energy stock position is improving and the situation is becoming more stable.

According to the sources, the improving energy stock situation has given the government greater confidence in managing fuel supplies.

They added that India has also taken steps to diversify its crude oil imports to reduce dependence on vulnerable routes.

"India has increased its crude oil imports from sources other than the Strait of Hormuz. Earlier, about 60 per cent of India's crude oil imports came from sources outside the strategic shipping route, but that share has now increased to around 70 per cent," they stated.

"The first cargo has already started moving through the Strait of Hormuz -- indicating that supply flows are stabilising," they mentioned.

The clarification from the government came after the opposition political parties alleged that fuel prices could increase.

Responding to the claims, government sources said the allegation was completely baseless.

They said the earlier assurance was specifically related to petrol and diesel prices and was not in reference to LPG.

The sources again reiterated that petrol and diesel prices will not increase.

"This was only said for petrol and diesel. It was not in reference to LPG. Today we again assure that prices of Petrol and Diesel will not increase," as per the sources.

On the issue of cooking gas, sources said the government is currently working on re-prioritising LPG production to ensure adequate supply.

"The price of a Liquefied Petroleum Gas cylinder has increased by about Rs 110 over the past 12 years," they noted.

"The government is closely monitoring the energy situation and taking steps to maintain stability in fuel supplies and prices," according to the sources.

- IANS

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Reader Comments

P
Priya S
Good news on petrol, but what about LPG? The article says they are "re-prioritising" production. As a homemaker, a cylinder price hike hits the monthly budget hard. Hope they give clarity on that soon.
R
Rohit P
Increasing imports from outside the Strait of Hormuz from 60% to 70% is a smart strategic move. Energy security is national security. We need to be self-reliant and not depend on volatile regions. Jai Hind!
S
Sarah B
While the assurance is welcome, I hope this isn't just pre-election rhetoric. Fuel prices have been a political football for years. The proof will be in the pricing at the pump over the next few months.
V
Vikram M
The first cargo moving through the Strait is a positive sign for stability. My transport business runs on diesel, so price certainty is everything. Hope the government keeps this promise. 🙏
K
Karthik V
They mention LPG price increased by Rs 110 in 12 years... that's actually not much if you consider inflation. The focus should be on ensuring supply for Ujjwala beneficiaries. That's a real welfare scheme.

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