US EditionNo plan yet to raise petrol, diesel prices: Oil Ministry
The ministry said retail fuel rates remain unchanged and called social media reports of an imminent hike fake and misleading.
- The Ministry of Petroleum and Natural Gas clarified on Thursday there is no proposal under consideration to increase petrol or diesel prices, dismissing recent reports as "mischievous and misleading."
- Speculation grew after a Kotak Institutional Equities report suggested fuel prices could rise by Rs 25-28 per litre, citing crude oil prices hovering around $120 per barrel and mounting financial pressure on OMCs.
- Indian refineries currently face monthly losses of Rs 27,000 crore, while the Government has previously cut excise duty by Rs 10 per litre and reinstated windfall taxes to manage pressures.
- The Government and Oil PSUs have taken relentless steps to insulate Indian citizens from international price volatility, maintaining stable retail petrol and diesel prices for four years despite global fluctuations.
- Tensions in West Asia and disruptions near the Strait of Hormuz have pushed crude prices above USD 100 per barrel, influencing domestic fuel pricing discussions amid global oil market volatility.
22 Articles
22 Articles
Are petrol and diesel prices going to become more expensive in India? The Modi government has responded to this question. Amid US-Iran tensions, growing concerns about the Strait of Hormuz, and a surge in crude oil prices, reports have emerged that fuel prices in the country could rise.
Ministry Of Petroleum And Natural Gas Denies Reports Of Fuel Price Hike, Calls Claims “Misleading”
The clarification came after a report by Kotak Institutional Equities hinted of a steep increase in petrol and diesel prices once the polling for assembly elections in states like West Bengal ends on April 29.
Petrol, Diesel Price Hike After Assembly Elections? Here Is What Petroleum Ministry Says | 📰 LatestLY
Petroleum Ministry on Thursday dismissed media reports regarding petrol and diesel price increase after the assembly elections in West Bengal and Tamil Nadu, calling such reports as “mischievous and misleading”. In a social media post on X, the ministry clarified that "there is no such proposal under government consideration." 📰 Petrol, Diesel Price Hike After Assembly Elections? Here Is What Petroleum Ministry Says.
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