India absorbs fuel price hike, dismisses lockdown rumors: Oil Minister Puri

• Oil Minister Hardeep Singh Puri stated India is bearing the financial brunt of not increasing fuel prices despite a sharp rise in global crude oil prices.
• International crude prices surged from $70/barrel to $122/barrel, causing 20-50% price hikes globally.
• Puri confirmed the government chose to absorb costs to insulate Indian citizens from international volatility, following PM Modi's commitment.
• He dismissed rumors of a nationwide lockdown as completely false, urging the public to avoid misinformation.
• Government cut excise duties on petrol (₹3/liter from ₹13) and diesel (₹0 from ₹10) and imposed export duties on diesel and ATF to secure domestic supply.