Government sources have signalled an improvement in India's energy security, noting that the nation's stock levels are on an upward trajectory despite the volatility in West Asia.
Officials indicated that recent assessments have provided the administration with a much-needed cushion, statin
The Government of Pakistan has announced a sharp hike in the prices of petrol and diesel by PKR 55 per litre, in the wake of the escalating security situation in West Asia, as per a report by ARY News.
"Reports on social media suggesting a shortage of petrol and diesel are baseless. India has sufficient fuel stocks, and supply and distribution networks are functioning normally," IndianOil said.
As per the sources, Gas Authority of India Limited (GAIL) will declare force majeure to ensure gas supply to priority sectors, as India navigates energy challenges stemming from the escalating West Asia conflict.
In a bid to curb vehicular pollution and enforce stricter compliance with emission norms, the State Transport Authority (STA) in Odisha has directed oil marketing companies to stop dispensing petrol and diesel to vehicles without a valid Pollution Under Control Certificate (PUCC).
According to the notification issued by Pakistan's Ministry of Finance, the petrol prices were increased by Rs 4.07 per litre, taking the new rate to Rs 268.68 per litre. Meanwhile, the prices of high-speed diesel rose by Rs 4.04 per litre, with the new rate at Rs 276.81 per litre.
The Aam Aadmi Party (AAP) on Tuesday alleged that Prime Minister Narendra Modi has prioritised "crony interests" over national welfare, noting that he allowed petrol and diesel to be sold at Rs 95-104 per litre despite India purchasing crude oil at discounted rates from Russia.
In a veiled take on the Mamata Banerjee-led West Bengal government, Union petroleum and natural gas minister Hardeep Puri reiterated that petrol and diesel prices in non-BJP states are ruling above that of BJP-run states.
Amid escalating tensions between Israel and Iran, Union Minister for Petroleum and Natural Gas Hardeep Singh Puri on Wednesday assured that India has sufficient petrol and diesel reserves and that India need not to worry, as it also has enough energy supplies for the coming months.
Puri mentioned that the government had reduced the cess on petrol and diesel in November 2021 and May 2022, leading to price reductions of Rs 13 and Rs 16 per liter, respectively. He attributed this to the combined efforts of the central and state governments in reducing taxes.
As tensions between India and Pakistan continue to rise, Indian Oil Corporation has assured the public that there is no shortage of fuel in the country.
Congress President Mallikarjun Kharge on Tuesday hit out at the Modi government over the imposition of cess on petrol and diesel despite falling global crude oil prices and alleged that even though it has collected 38.89 lakh crore since 2014, it has "squeezed" the rightful share of states b