No petrol or diesel price hike for now, government says; India’s fuel stocks are improving

Talking about energy stock in the country, government sources have noted that the nation's stock levels are on an upward trajectory despite the volatility in West Asia.

• Petrol and diesel prices will not increase, government confirms
• India's energy stock levels rise despite West Asia volatility
• Crude oil imports from non-Hormuz sources increased to 70 percent

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Government sources have ruled out any immediate increase in the prices of transport fuels, stating that petrol and diesel prices will not rise, according to remarks shared with news agency ANI.

Sources said the assurance was being reiterated to domestic consumers amid ongoing volatility in global energy markets.

“Petrol and diesel prices will not increase,” government sources said, adding that the administration was reaffirming its commitment on the issue.

Officials further reiterated the position, saying, “Today we again assure that prices of Petrol and Diesel will not increase.”

Government sources also said the country’s energy stock position is improving, despite tensions in West Asia that have raised concerns about global oil supply chains.

Officials told ANI that recent assessments have shown an improvement in the availability of energy supplies.

“Energy stock position of India is improving,” sources said, adding that developments in recent weeks had provided the government with greater confidence in the country’s supply outlook.

“As the situation is improving, that is giving us greater confidence,” the sources said.

According to officials, internal reviews conducted by the government have also reflected the improving situation.

“In our review meetings, we are getting the sense that our energy stocks are getting better,” sources told ANI.

Government sources also responded to allegations made by the Congress party regarding the pricing of liquefied petroleum gas (LPG).

Officials said claims of a price hike linked to earlier government assurances were based on a misunderstanding.

Sources clarified that previous statements about price stability were made only with reference to transport fuels.

“Their allegation is completely baseless. This was only said for petrol and diesel. It was not in reference with LPG,” government sources told ANI.

Officials also said that concerns previously raised within the government regarding LPG inventories had eased.

“At one stage we were concerned for our LPG stocks, but now we are at better situation,” sources said.

Government sources also said India has taken steps to reduce reliance on the Strait of Hormuz, a key global shipping route that has faced uncertainty amid the ongoing West Asia conflict.

Officials told ANI that India has increased procurement from other sources in order to maintain supply stability.

“India has ramped up 10 percent of its crude imports from sources other than the Strait of Hormuz,” sources said.

According to the government’s internal assessment, the share of India’s crude imports sourced from outside the strait has increased.

“60 percent of crude oil imports which was sourced from other than Strait of Hormuz has now increased from 60 percent to 70 percent,” sources said.

The Strait of Hormuz connects the Persian Gulf with the Arabian Sea and carries roughly 20 percent of global oil shipments each day, making it one of the world’s most important energy transit routes.

India, the world’s third-largest oil importer, depends heavily on crude imports to meet domestic demand, making stability in shipping routes and supply chains a key component of its energy security strategy.

Tensions in West Asia in recent weeks have raised concerns about potential disruptions to oil shipments through the strait, prompting governments and energy buyers to assess alternative sourcing options.