'Prices Never Went Up': Petroleum Minister Explains India's Fuel Price Strategy

Despite global crude oil volatility and geopolitical tensions, petrol and diesel prices in India have remained largely stable over the past four years. The government says this was made possible by absorbing higher costs instead of passing them on to consumers through fuel price hikes. Hardeep Singh Puri, Union Minister for Petroleum and Natural Gas, said excise duty cuts announced by the Centre, including a ₹10 per litre reduction in March 2026, helped shield consumers from rising international oil prices. He also stressed that fuel availability remained uninterrupted while explaining the government's broader strategy to maintain affordability and energy security.