India denies reports of petrol, diesel price hike
The government also noted that India is among the few countries where petrol and diesel prices have not been increased in the past four years, despite a more than 50% rise in global crude oil prices
India has dismissed media reports suggesting a sharp increase in petrol and diesel prices following the ongoing assembly elections in four states, stating that no such proposal is under consideration.
In a statement posted on X, the Indian Ministry of Petroleum and Natural Gas said, "There are some news reports suggesting a price hike of petrol and diesel. It is hereby clarified that there is no such proposal under consideration by the government."
The clarification comes after a report by Kotak Institutional Equities indicated that fuel prices could rise by Rs 25-28 per litre once polling concludes, particularly after the West Bengal elections end on 29 April. The projection was based on crude oil prices remaining close to $120 per barrel.
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Rejecting the claim, the ministry described such reports as "mischievous and misleading," adding that they are intended to create unnecessary fear among citizens.
The government also noted that India is among the few countries where petrol and diesel prices have not been increased in the past four years, despite a more than 50% rise in global crude oil prices.
It said sustained efforts by the government and state-owned oil companies have helped shield consumers from international price volatility.
Currently, petrol is priced at Rs 94.77 per litre and diesel at Rs 87.67 per litre in the national capital.
