Amid widespread speculation over a possible hike in petrol and diesel prices after the conclusion of assembly elections in several states, the Central government on Tuesday firmly denied any such move, assuring consumers that fuel prices will remain unchanged for now.
The clarification comes at a time when rumours of an imminent increase in fuel prices had sparked panic buying in several parts of the country, especially in Andhra Pradesh, where reports suggested that hundreds of petrol pumps witnessed unusual rushes and temporary shortages.
Addressing the media, Sujata Sharma, Joint Secretary in the Ministry of Petroleum and Natural Gas, stated that there is currently no proposal under consideration to revise retail petrol and diesel prices. She urged the public not to believe unverified reports and assured that the government is closely monitoring fuel supplies across all states to prevent any disruption.
According to the ministry, demand surged sharply in certain regions due to panic buying, with some fuel stations recording a rise of over 30 per cent in sales. However, officials confirmed that the country has sufficient stock of petrol, diesel, LPG and aviation fuel, and that there is no shortage in supply.
The government’s reassurance comes despite rising concerns over the mounting losses being faced by state-run oil marketing companies. With global crude oil prices climbing significantly in recent weeks, fuel retailers are reportedly under pressure as domestic retail rates have remained unchanged for an extended period.
Industry analysts had earlier predicted that a substantial increase in petrol and diesel prices could follow the elections due to the widening difference between international crude prices and domestic fuel rates. However, the Centre’s latest statement appears aimed at calming markets and consumers alike.
Officials reiterated that supplies are stable and that priority is being given to outlets witnessing heavy demand to ensure uninterrupted availability. The government has also asked state authorities to remain vigilant and help curb panic buying triggered by misinformation.
