Government says fuel rates will remain stable as India diversifies energy imports

New Delhi: The Ministry of Petroleum and Natural Gas has said the government currently has no plans to increase petrol and diesel prices, despite sharp fluctuations in global oil markets caused by geopolitical tensions in West Asia.
During an inter ministerial briefing, joint secretary Sujata Sharma stated that the central government intends to keep fuel prices stable for consumers even as international crude oil rates remain volatile. She noted that India has also been working to diversify its energy sources in recent months, including increasing gas supplies from the United States.
Officials indicated that oil marketing companies are absorbing part of the fluctuations in global crude prices to prevent sudden increases in petrol and diesel rates. International oil markets have seen heightened uncertainty due to the ongoing conflict in West Asia involving Iran, Israel and the United States.
The tensions have raised concerns about possible disruptions to oil shipments through the Strait of Hormuz, one of the world’s most important maritime energy routes through which nearly one fifth of global oil supply passes.
While petrol and diesel prices are expected to remain steady for now, Sharma acknowledged concerns about the availability of liquefied petroleum gas. She said LPG supply remains an area of concern and authorities are exploring alternative solutions, including the wider adoption of induction based cooking.
Household energy costs have come under increased scrutiny after domestic LPG cylinder prices were raised earlier this month. The price of a standard 14.2 kilogram cylinder increased by ₹60 on March 7, pushing the retail rate in New Delhi from ₹853 to ₹913.
Commercial LPG cylinders used by restaurants and small businesses also witnessed a price increase of around ₹115 to ₹144, with the Delhi rate reaching ₹1,884.50.
Consumers enrolled under the Pradhan Mantri Ujjwala Yojana continue to receive a subsidy of ₹300 per cylinder, which is credited directly to their bank accounts to help offset the higher cost of cooking gas.