23 April,2026 01:19 PM IST | New Delhi | mid-day online correspondent
India keeps fuel prices steady amid rising global crude rates. Representational Image
The Ministry of Petroleum and Natural Gas on Thursday dismissed reports suggesting a sharp increase in petrol and diesel prices after the upcoming assembly elections in West Bengal and Tamil Nadu. Calling such claims "mischievous and misleading," the ministry clarified that there is currently no plan under consideration to raise fuel prices.
In a post on X, the ministry stated, "There is no such proposal under government consideration." It added that such reports are intended to create unnecessary fear among citizens.
The clarification came after a report by Kotak Institutional Equities suggesting that fuel prices could rise by Rs 25-28 per litre after polling concludes on April 29. The estimate was based on the assumption that global crude oil prices would remain close to USD 120 per barrel.
However, the government firmly rejected this claim, saying such news is "designed to create fear and panic amongst the citizens."
The ministry emphasised that India has managed to keep petrol and diesel prices stable for the past four years, even as global oil prices have fluctuated significantly. "In fact, India is the only country where petrol and diesel prices haven't increased in the last 4 years," the Ministry said.
It highlighted that both the government and oil public sector companies have taken continuous steps to protect consumers from international price shocks.
It also pointed out that many countries have seen fuel prices rise sharply by as much as 85 per cent while India has avoided such increases despite a more than 50 per cent rise in crude oil costs.
Global oil prices rose again on Thursday due to stalled peace talks between the United States and Iran, which have impacted the Strait of Hormuz, a key oil supply route. Brent crude (June contract) rose to USD 103.35 per barrel, up about 4 per cent. West Texas Intermediate (WTI) futures increased by 1.62per cent to USD 94.47 per barrel, reported IANS.
Despite these global pressures, petrol and diesel prices in India have remained unchanged. In New Delhi, petrol is priced at Rs 94.77 per litre, while diesel costs Rs 87.67 per litre, as per PTI reporting.
The government also reassured citizens about fuel availability. Retail fuel outlets across the country are functioning normally, and there are no supply disruptions.
On LPG supplies, Joint Secretary Sujata Sharma confirmed that distribution is steady, stating that no shortages or "dry-outs" have been reported at any distributor.
Additionally, an Indian-flagged crude oil tanker, Desh Garima, safely arrived in Mumbai on Wednesday after crossing the Strait of Hormuz with 31 Indian seafarers onboard on April 18, as per IANS.
Reaffirming its stance, the ministry said it remains committed to shielding citizens from volatile global energy markets. It stressed again that reports of a price hike are unfounded and misleading.
(With IANS Inputs)
