The government has reiterated that petrol and diesel prices will not be increased for now, even as tensions in West Asia continue to affect global energy markets. According to a report by Asian News International (ANI) citing government sources, India’s energy supply position is improving and cargo movement through the Strait of Hormuz has started resuming.
Government sources told ANI that India’s energy stock position is getting stronger as the situation stabilises. “Energy stock position of India is improving. As the situation is improving, that is giving us greater confidence,” sources said.
Government sources reaffirmed that petrol and diesel prices will not be increased.
“Petrol and diesel prices will not increase,” sources said, adding that earlier assurances on price stability were only in reference to transport fuels and not cooking gas.
Responding to criticism from the Indian National Congress over the recent LPG price hike, government sources said the allegations were misplaced.
“Their allegation is completely baseless. The earlier statement was only regarding petrol and diesel. It was not in reference to LPG. Today we again assure that prices of petrol and diesel will not increase,” sources told ANI.
India Diversifies Crude Imports
Officials also highlighted that India has been diversifying its crude oil sourcing to reduce dependence on the Strait of Hormuz route.
According to government sources cited by ANI, India has ramped up crude imports from sources outside the Strait of Hormuz by about 10%. Earlier, around 60% of India’s crude imports came through routes other than the Strait of Hormuz, but that figure has now increased to about 70%.
This shift is aimed at strengthening supply security in case disruptions occur in the strategically sensitive waterway.
Source: India Latest News, Breaking News Today, Top News Headlines | Times Now
