Will Petrol, Diesel Prices Go Up? Govt Responds to West Asia Conflict Concerns

Amid heightened volatility in global oil markets due to escalating tensions in West Asia, the Ministry of Petroleum and Natural Gas has clarified that there is no immediate plan to hike petrol and diesel prices.

Addressing an inter-ministerial briefing, Sujata Sharma said the Centre is not considering any increase in fuel prices at this stage. She noted that India has been working to diversify its energy basket, including sourcing supplies from the United States and other partners.

The assurance comes even as crude oil prices remain volatile amid the ongoing conflict involving Iran, Israel and the United States. The situation has raised concerns over potential disruptions in shipments through the Strait of Hormuz, a key artery for global energy supplies.

Officials said oil marketing companies are currently absorbing part of the global price fluctuations to maintain stability in domestic fuel rates and prevent sudden shocks to consumers. However, the ministry flagged concerns over LPG availability. Sharma indicated that while supply pressures persist, efforts are underway to explore alternatives, including a gradual shift towards electric and induction-based cooking solutions.

Household fuel costs have remained in focus following a recent hike in LPG prices. Earlier this month, the price of a 14.2 kg domestic cylinder was increased by ₹60, taking rates in Delhi to ₹913.

Commercial LPG cylinders (19 kg), widely used by eateries and small businesses, have also become costlier, adding to operational expenses.

Consumers under the Pradhan Mantri Ujjwala Yojana (PMUY) continue to receive a subsidy of ₹300 per cylinder, offering some relief despite the price hike.

While global uncertainties persist, the government’s stance on keeping petrol and diesel prices unchanged is expected to provide short-term relief to consumers.