No fuel price hike in India for over 4 years despite global crises: Hardeep Puri

Puri said the global energy landscape had been affected by wars, supply chain disruptions and geopolitical tensions, including in the Strait of Hormuz.

Surat: Union Petroleum and Natural Gas Minister Hardeep Singh Puri on Friday, May 1, 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.

The remarks were made during thematic discussions on energy security and economic resilience at the conference, which is part of Gujarat’s regional expansion of the Vibrant Gujarat initiative ahead of the next global summit cycle.

Union Jal Shakti Minister C.R. Patil also addressed the gathering, highlighting Surat’s industrial contribution to national infrastructure and defence manufacturing.

“Industries from the region had played a role in major national projects, including the Chenab Rail Bridge in Jammu and Kashmir, where steel from AM/NS was used,” he said.

He further noted that K9 Vajra artillery systems manufactured at L&T’s Hazira facility were strengthening India’s defence capabilities.

“Surat’s industries have contributed to the country’s landmark projects, including the Chenab Rail Bridge and modern defence systems,” he said.

On water management, Patil said more than 70 lakh water conservation structures had been created through public participation, enabling an additional storage capacity of around 2 billion cubic metres.

“Agriculture accounts for 83 per cent of water usage, households 14 per cent and industries 2.5 per cent, and industries must adopt sustainable practices and avoid excessive groundwater extraction,” he said.

He also said the Surat Municipal Corporation earns over Rs 300 crore annually through the sale of treated wastewater, adding that “the city has developed long-term planning to meet its water requirements for the next 50 years”.