Petrol and Diesel Prices To Rise INR 25-28 per Litre After Assembly Elections 2026? Petroleum Ministry Calls Viral Reports Fake News
The Ministry of Petroleum and Natural Gas has dismissed reports of an INR 25-28 fuel price hike after assembly elections as "fake news" and "mischievous". Officials clarified that no such proposal exists, noting that India has successfully insulated citizens from high global crude costs for four years. Current retail prices in major cities remain unchanged.
The Ministry of Petroleum and Natural Gas (MoPNG) issued a strongly worded clarification today, April 23, dismissing reports of a massive imminent hike in petrol and diesel prices. The government labelled viral claims suggesting a price increase of INR 25–28 per litre following the conclusion of the ongoing Assembly elections as "fake news". Officials urged the public to rely only on formal announcements and verified government channels, stressing that no such decision has been made by the centre or oil marketing companies (OMCs).
Official Rebuttal to Speculative Reports
The clarification follows widely circulated news reports which allegedly claimed that fuel prices might see a sharp upward revision once the electoral process ends on April 29. The report had cited sustained high global crude oil prices - currently hovering around USD 120 per barrel - and supply chain disruptions in the West Asia region as justification for a potential price correction. Fuel Price Hike Likely: Petrol, Diesel Prices May Rise INR 25-28 per Litre After Assembly Elections 2026, Says Report.
Ministry of Petroleum Says Petrol and Diesel Price Hike News Is Fake
"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 misleading," the Ministry of Petroleum and Natural Gas said in a post on X (formerly Twitter). The Ministry further added that India is the only country where petrol and diesel prices haven’t increased in the last four years.
"Govt of India and Oil PSUs have taken relentless steps in order to insulate the Indian citizens from steep increases in international prices", the post read. Despite the government's denial, energy analysts have pointed to the widening gap between international crude costs and domestic retail rates. Global markets have faced extreme pressure due to ongoing maritime tensions, particularly in the Strait of Hormuz.
Recent data suggests that while India's crude import volumes have seen a slight decline, the total import bill has surged, costing the national exchequer an additional USD 190–210 million per day. While these financial pressures on state-run refiners are real, the Ministry clarified that the "projected figure of INR 25–28" lacks any official or factual basis. Petrol, Diesel Price Hike After Assembly Elections? Here Is What Petroleum Ministry Says.
Fuel Prices in Major Cities As of April 23
- New Delhi: Petrol INR 94.77 | Diesel INR 87.67
- Mumbai: Petrol INR 103.54 | Diesel INR 90.03
- Bengaluru: Petrol INR 102.92 | Diesel INR 90.99
- Chennai: Petrol INR 101.06 | Diesel INR 92.61
Current Status of Fuel Prices in India
As of today, petrol and diesel prices in major metropolitan areas remain unchanged. The government noted that the pricing of petroleum products is technically deregulated, with OMCs authorised to adjust rates based on a 15-day rolling average of international benchmarks. However, the Ministry emphasised that any adjustment, if necessary, would be managed in a manner that does not destabilise the inflation rate.
(The above story first appeared on LatestLY on Apr 23, 2026 02:34 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).