New Delhi: With crude oil prices on the upswing globally in the aftermath of the US-Iran war and Strait of Hormuz blockade, there has been speculation of a hike in fuel prices. Many felt that furl prices will go up post the state Assembly elections.
However, the Central government assured citizens saying there was no plan to increase petrol and diesel prices after polling ends in West Bengal on April 29.
The clarification came after there was panic buying in some parts of the country, especially Andhra Pradesh, where rumours of an impending price hike led to long queues at petrol
pumps.
More than 400 fuel stations reportedly ran dry, as demand rose by more than 30% at some outlets.
“There is no proposal to increase petrol and diesel prices,” said Sujata Sharma, Joint Secretary in the Ministry of Petroleum & Natural Gas.
She urged the public not to rely on rumours. “I want to urge everyone to please don’t believe in rumours. Avoid panic buying and rely on official sources for information.”
“We have seen panic buying in some places. We are in continuous contact with state governments,” said Sharma. “All retail outlets are being monitored and supplies are being prioritised so that stock availability is ensured and there are no dry-outs.”
There is adequate stocks of petrol, diesel, LPG and aviation turbine fuel to meet demand, Sharma said.
“Prices are stable and there has been no increase in rates,” she said.
Despite the recent surge in global prices, retail fuel prices in India have remained unchanged since April 2022.