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No plan yet to raise petrol, diesel prices: Oil Ministry

India on Thursday said there is no proposal under consideration to increase petrol, diesel prices, dismissing reports claiming the same. “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,” said Ministry of Petroleum and Natural Gas in a post on X. “Such news items are designed to create fear and panic amongst the citizens and are mischievous and misleading,” it said.

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. Kotak projected a Rs 25-28 a litre increase in price based on crude oil staying close to USD 120 per barrel.


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