Centre rules out petro price hike for now

New Delhi:The Union government has decided not to raise petrol and diesel prices as cargo movement through the Strait of Hormuz resumes, citing improved energy stock and stable supply chains.

Responding to criticism from the Congress over the recent LPG price hike, government sources said the allegations were misplaced. 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 reports, India’s energy supply position is improving and cargo movement through the Strait of Hormuz has started resuming. Government sources said that India’s energy stock position is getting stronger as the situation stabilises.