The Indian government on Monday stated that there has been no increase in the retail prices of petrol, diesel, and domestic LPG, countering speculation of a price hike following the announcement of assembly election results in four states and a Union Territory.
Government Clarification
Sujata Sharma, joint secretary in the ministry of petroleum, confirmed during a press briefing that there is no proposal to support oil marketing companies for losses incurred due to under-recoveries while keeping retail prices frozen. She emphasized that the government is committed to protecting retail consumers despite high volatility in global crude prices.
Impact of West Asia Conflict
Sharma noted that although supplies have been disrupted due to the war in West Asia, retail prices for petrol, diesel, and domestic LPG remain unchanged. However, prices for bulk or industrial diesel and commercial LPG used by hotels and restaurants have been increased.
Election Results Context
The clarification comes amid the backdrop of assembly election results in Tamil Nadu, West Bengal, Kerala, Assam, and Puducherry. The Times of India is providing live updates and full coverage of the election results.
