New Delhi
The Ministry of Petroleum and Natural Gas on Thursday dismissed reports claiming petrol and diesel prices may rise sharply after Assembly elections, saying no such proposal is under consideration.
In a statement posted on X, the ministry said recent reports suggesting a fuel price hike were misleading and intended to create unnecessary panic among citizens.
Reports of Price Hike Rejected
The clarification followed a report by Kotak Institutional Equities which suggested petrol and diesel prices could increase by Rs 25–28 per litre after polling ends in states such as West Bengal on April 29. The projection was based on crude oil remaining near USD 120 per barrel.
Government’s Position
The ministry said India remains one of the few countries where petrol and diesel prices have not increased in the last four years, despite volatility in international oil markets. It added that the government and public sector oil companies have taken steps to shield consumers from global price shocks.
Global Oil Pressure
International crude prices surged after conflict involving United States, Israel and Iran disrupted markets and affected shipping through the Strait of Hormuz, a major global energy route.
Oil reportedly rose from around USD 70 per barrel to USD 119, before easing somewhat. Brent Crude is currently trading around USD 103–106 per barrel.
Current Fuel Prices in Delhi
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