‘No proposal’ to raise petrol, diesel prices, says Centre after report estimates post-poll hike

The Union government on Thursday said that there is “no proposal under consideration” to increase the prices of petrol and diesel amid the war in West Asia.

This came after a report by stock broker Kotak Institutional Equities estimated that fuel prices could be hiked by Rs 25 to Rs 28 per litre after the Assembly elections in five states conclude, reported CNBC-TV18 on Wednesday.

Polling in Assam, Kerala and Puducherry was held on April 9. Voting in Tamil Nadu and in the first phase of the West Bengal polls was taking place on Thursday. The second phase of polling in West Bengal will be held on April 29. The votes in all states will be counted on May 4.

On Thursday, the Union Ministry of Petroleum and Natural Gas said that the reports “suggesting a price hike of petrol and diesel are designed to create fear and panic amongst the citizens and are mischievous and misleading”.

“In fact, India is the only country where petrol and diesel prices have not increased in the last four years,” the ministry claimed. “Government of India and Oil PSUs [public sector undertakings] have taken relentless steps in order to insulate the Indian citizens from steep increases in international prices.”

FAKE NEWS

There are some news reports suggesting a price hike...

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