Govt says no proposal so far to raise petrol, diesel prices
This story was originally published at 16:27 IST on 28 April 2026
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--Govt: No proposal so far to raise petrol, diesel prices
NEW DELHI – The government is not considering any proposal at the current juncture to raise retail prices of petrol and diesel, Joint Secretary for Marketing and Oil Refinery, Ministry of Petroleum and Natural Gas Sujata Sharma said Tuesday. While addressing an inter-ministerial briefing on the West Asia crisis, she said India has sufficient stock of fuel and there is no need to panic.
Recently, certain research reports indicated that after the state Assembly elections, the retail prices of petrol and diesel will be hiked, if there was no truce in West Asia. "Based on Indian basket of $120/bbl and low fixed margins (US$8/15 per bbl for petrol/diesel), there is a case to raise prices by INR 25-28/litre," Kotak Institutional Equities had said in a report. "However, political considerations will likely prevail, and actual hikes may be more modest," it added.
India faces one of the worst energy crises in decades in view of the war in West Asia. It has been exposed to energy supply and price shocks, given its dependence on countries in the Persian Gulf region for crude oil, liquefied petroleum gas, and liquefied natural gas supplies. Crude oil prices have surged to as high as $120 per barrel from $70 per barrel before the war. Although prices have cooled from the over $115 per barrel range, it is still higher than the pre-war period. End
US$1 = INR 94.54
Reported by Sagar Sen
Edited by Akul Nishant Akhoury
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