&imwidth=800&imheight=600&format=webp&quality=medium "No fuel hike post assembly election, govt debunks speculations. Details inside")
The government on Tuesday (April 28) ruled out any increase in petrol and diesel prices after the conclusion of polling in West Bengal on April 29, amid speculation of a post-election hike triggered by rising global crude oil prices. The assurance comes at a time when international oil markets remain volatile, and fuel retailers continue to face mounting financial losses. The clarification also follows reports of panic buying in several parts of the country, particularly in Andhra Pradesh, where rumours of a price hike led to long queues at petrol pumps.
According to officials, more than 400 fuel stations reportedly ran dry on Sunday as demand surged by as much as 30 to 33 per cent at some outlets. “We have seen panic buying in some places. We are in continuous contact with state governments,” Sujata Sharma, Joint Secretary in the Ministry of Petroleum and Natural Gas, said. “All retail outlets are being monitored and supplies are being prioritised so that stock availability is ensured and there are no dry-outs,” she added.
Also read: Bihar govt makes Vande Mataram mandatory before any programme for all educational institutions
‘No proposal’ for price hike
Dismissing speculation, Sharma said, “There is no proposal to increase petrol and diesel prices.” She also urged the public to avoid relying on rumours. “I want to urge everyone not to please don’t believe in rumours. Avoid panic buying and rely on official sources for information,” she said.
The government maintained that the country has adequate stocks of petrol, diesel, LPG and aviation turbine fuel to meet demand. “We have enough supplies of LPG, petrol and diesel. Prices are stable, and there has been no increase in rates,” Sharma said.
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Pressure builds on fuel retailers
The government’s stance comes despite growing financial strain on state-run oil companies, which are currently selling fuel below market rates. Officials estimate that the losses are significant, with daily losses pegged at around Rs 2,400 crore. Earlier, Sharma had said oil firms were losing about Rs 20 per litre on petrol and nearly Rs 100 per litre on diesel.
