Centre Dismisses Speculations of Fuel Price Hike Amid Elections

In a recent statement, the Union government clarified that there are currently no plans to increase petrol and diesel prices, despite ongoing speculation following a report from Kotak Institutional Equities. The report indicated that fuel prices might rise by Rs 25 to Rs 28 per litre once the Assembly elections in five states are completed.

The elections are crucial as they include polling in Assam, Kerala, and Puducherry, which took place on April 9, while Tamil Nadu and the first phase of West Bengal voting occurred on April 6. The second phase for West Bengal is scheduled for April 29, with vote counting for all states set for May 4.

Responding to the rumors, the Union Ministry of Petroleum and Natural Gas strongly refuted the claims, labeling them as misleading and designed to instill fear in the public. In a statement, the ministry emphasized that India has not seen an increase in fuel prices for the past four years, asserting that both the government and public sector oil companies have made concerted efforts to shield citizens from the sharp fluctuations in international oil prices.

The ministry’s statement suggested that the circulation of such news could be seen as an attempt to cause unnecessary alarm among the populace. They reiterated their commitment to maintaining fuel price stability, especially during a time when global oil markets are experiencing volatility due to geopolitical tensions in West Asia.

As the elections progress, the government’s assurance comes at a pivotal time, as fuel prices often play a significant role in voter sentiment. The assurance may provide some relief to citizens amid concerns over rising living costs, especially in an election year when economic issues are at the forefront of political discourse.

Source: scroll.in