Petroleum Ministry terms fuel price hike reports fake:Govt claims India only country with no petrol diesel price hike in last 4 years

The Ministry of Petroleum and Natural Gas on Thursday, 23 April, 2026, dismissed reports of any hike in petrol and diesel prices post elections. The ministry called such claims fake and reiterated that fuel rates remain unchanged. India only country with no price hike of petrol diesel in last 4 yrs: Govt The ministry urged citizens not to get misled by unverified information circulating on social media plaforms.
The clarification comes against the backdrop of rising global crude oil and petrol and diesel prices in other countries, which had triggered speculation on social media about a possible revision in domestic fuel rates once voting concludes in India. The government clarified that oil marketing companies have held retail prices steady, absorbing fluctuations in crude costs, in line with the government’s broader effort to shield consumers from inflationary pressures.
What was the report? Kotak Institutional Equities had hinted in a report that a steep increase in petrol and diesel prices could be effected once the polling for assembly elections in states like West Bengal would ended on April 29. Kotak had projected a ₹25-28 a litre increase in price based on the fact that crude oil has stayed close to $120 per barrel. Pakistan increased petrol and diesel prices twice during Iran war: Pakistan had increased petrol and diesel prices twice during the Iran war due to sharp spike in global oil prices. The Shehbaz Sharif-led government had raised petrol prices by nearly PKR 200 per litre. Currently, petrol costs PKR 458.41 a litre in India’s neighbour and High-Speed Diesel (HSD) rates are at PKR 520.35 per litre.