World · India Bureau
India denies plans to raise fuel prices despite daily losses
The central government has dismissed speculation about imminent hikes in petrol and diesel prices, stating no such increase is currently planned. The clarification comes as India faces mounting daily losses estimated at Rs 530 crore due to elevated crude oil costs.
LSN India ·
New Delhi has moved to quash widespread reports suggesting an impending increase in fuel prices, with officials confirming that no price revision is under consideration at present. The statement addresses growing public concern over potential hikes as global crude oil prices remain elevated.
India's oil marketing companies are absorbing significant daily losses as international crude prices stay high. The differential between global crude rates and domestic pump prices has created substantial financial strain, with estimates suggesting losses of approximately Rs 530 crore daily.
The government's clarification arrives amid recurring speculation in media and public discourse about potential fuel price adjustments. Officials have sought to reassure consumers that current pricing policies will remain in place for the foreseeable future.
Oil prices in international markets remain a critical factor influencing India's energy economics. While crude costs have remained stubbornly high, the government has maintained its position that domestic fuel pricing will not be immediately adjusted to reflect these global movements.