No lockdown planned, Government assures amid West Asia crisis; fuel prices stabilised

Union Finance Minister Nirmala Sitharaman and Union Petroleum and Natural Gas Minister Hardeep Singh Puri on Friday firmly dismissed rumours suggesting that India could impose a lockdown due to the ongoing West Asia crisis and potential fuel shortages.

Reassuring citizens, FM Sitharaman stated that there is no proposal under consideration for any lockdown, calling such claims “baseless” and expressing concern over misinformation circulating in political discourse.

“There shall not be any lockdown. I want to reassure people that there will be no such lockdown as we saw during COVID,” she said.

Echoing her remarks, Puri termed the rumours “irresponsible and harmful,” urging the public to remain calm and not fall prey to panic-driven narratives.

“Rumours of a lockdown in India are completely false. There is no such proposal under consideration by the Government of India,” he said in a post on X.

The assurances come amid a sharp rise in global crude oil prices triggered by escalating tensions in West Asia, particularly the US-Israel conflict with Iran and the blockade of the Strait of Hormuz – a critical route for nearly 20–25% of the world’s oil supply.

To cushion the impact on Indian consumers, the government – under the leadership of Prime Minister Narendra Modi – has taken decisive fiscal measures.

FM Sitharaman announced that excise duties on petrol and diesel have been significantly reduced, bringing them down to ₹3 per litre for petrol and nil for diesel. Additionally, export duties have been imposed to ensure domestic availability, including ₹21.5 per litre on diesel exports.

She explained that the move aims to prevent price hikes for consumers, support Oil Marketing Companies (OMCs) facing rising input costs, and ensure uninterrupted fuel supply across the country.

“The government will bear the burden so that the public does not face any difficulty or shortage of petrol, diesel, and LPG,” she said.