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Petroleum Ministry dismissed post-poll fuel prices hike report
New Delhi: The Ministry of Petroleum and Natural Gas has firmly rejected media reports suggesting that petrol and diesel prices may be increased after ongoing state elections. Calling such claims baseless, the Ministry said there is no proposal under consideration to revise retail fuel prices.
In a public clarification posted on X, the Ministry labelled the reports as misleading and designed to spread unnecessary panic among citizens. It reiterated that fuel prices in India have remained stable over recent years despite global volatility.
Officials also highlighted that government-run oil marketing companies have been working to shield consumers from international price shocks, ensuring stability at the pump even during periods of crude oil fluctuation.
The clarification comes after a brokerage note suggested that petrol and diesel prices in India could rise sharply by ₹25-₹28 per litre once the current election cycle concludes. The report argued that sustained high crude oil prices are putting pressure on the domestic fuel pricing system.
According to the note, elevated global crude levels are increasing financial strain on state-backed oil marketing companies, which have reportedly been absorbing part of the cost to avoid immediate retail price changes.
The brokerage further warned that continued price suppression may not be sustainable if international oil markets remain tight.
FAKE NEWS
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.
Such news items are designed to create fear and panic amongst the citizens and are mischievous and… pic.twitter.com/yTAfJdah2o— Ministry of Petroleum and Natural Gas #MoPNG (@PetroleumMin) April 23, 2026
International crude oil prices have remained elevated due to ongoing supply disruptions, including tensions affecting key shipping routes such as the Strait of Hormuz. This waterway is crucial for global energy trade, and any instability there often impacts oil markets worldwide.
Analysts say such disruptions contribute to volatility in crude prices, indirectly affecting fuel pricing decisions in importing countries like India.
Despite global market uncertainty and speculation, retail fuel prices across major Indian cities have stayed steady. In Delhi, petrol continues to be priced at ₹94.77 per litre, while in the Mumbai it remains at ₹87.67 per litre. Diesel rates have also seen no revision.
For now, the government maintains that price stability remains a priority, even as global crude movements continue to be closely monitored.
