New Delhi, March 7 (IANS) Government sources said on Saturday that petrol and diesel prices will not increase, adding that India’s energy stock position is improving and the situation is becoming more stable.

According to the sources, the improving energy stock situation has given the government greater confidence in managing fuel supplies.

They added that India has also taken steps to diversify its crude oil imports to reduce dependence on vulnerable routes.

“India has increased its crude oil imports from sources other than the Strait of Hormuz. Earlier, about 60 per cent of India’s crude oil imports came from sources outside the strategic shipping route, but that share has now increased to around 70 per cent,” they stated.

“The first cargo has already started moving through the Strait of Hormuz — indicating that supply flows are stabilising,” they mentioned.

The clarification from the government came after the opposition political parties alleged that fuel prices could increase.

Responding to the claims, government sources said the allegation was completely baseless.

They said the earlier assurance was specifically related to petrol and diesel prices and was not in reference to LPG.

The sources again reiterated that petrol and diesel prices will not increase.

“This was only said for petrol and diesel. It was not in reference to LPG. Today we again assure that prices of Petrol and Diesel will not increase,” as per the sources.

On the issue of cooking gas, sources said the government is currently working on re-prioritising LPG production to ensure adequate supply.

“The price of a Liquefied Petroleum Gas cylinder has increased by about Rs 110 over the past 12 years,” they noted.

“The government is closely monitoring the energy situation and taking steps to maintain stability in fuel supplies and prices,” according to the sources.

–IANS

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