SURAT: Union Petroleum and Natural Gas Minister Hardeep Singh Puri on Friday said that India has maintained stability in petrol and diesel prices for four years and 60 days despite global volatility in energy markets.
He was speaking at the Vibrant Gujarat Regional Conference (VGRC) - South Gujarat in Surat, which brought together central and state ministers, diplomats and industry leaders as part of Gujarat’s regional outreach under the Vibrant Gujarat framework.
Puri said the global energy landscape had been affected by wars, supply chain disruptions and geopolitical tensions, including in the Strait of Hormuz.
“Despite global war, supply chain crisis and tensions in the Strait of Hormuz, India has remained steady,” he said.
He stated that retail fuel prices in India have not been increased for four years and 60 days, contrasting this with neighbouring countries where he said “fuel prices had risen significantly, in some cases between around 39 per cent and 66 per cent”, alongside shortages, rationing and restricted working hours.
He said India had deliberately avoided reactive or panic-driven policy decisions. “The government did not allow panic to become policy. Economic stability had been maintained through multiple electoral cycles,” he noted. (IANS)
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