<p>New Delhi: Dismissing widespread speculation of an imminent hike in petrol and diesel prices after the conclusion of polling in West Bengal on April 29, the Centre on Tuesday said that it has no plans to increase fuel rates. </p><p>"There is no proposal to increase petrol and diesel prices," Sujata Sharma, Joint Secretary in the Ministry of Petroleum and Natural Gas, told media during a news briefing on the fallout of developments in West Asia.</p><p>Sharma was responding to questions about whether retail fuel prices would be revised once polling in the assembly elections in West Bengal and other states ends on Wednesday.</p>.Thousands of motorists throng fuel outlets fearing petrol, diesel shortage in Andhra Pradesh.<p>She also addressed reports of panic buying triggered by rumours of a price rise, particularly in parts of Andhra Pradesh, where more than 400 petrol pumps reportedly ran dry on Sunday.</p><p>"We have seen panic buying in some places. We are in continuous contact with state governments. All retail outlets are being monitored and supplies are being prioritised so that stock availability is ensured and there are no dry-outs," Sharma said.</p><p>According to the Petroleum Ministry, some outlets witnessed a sudden surge in demand by as much as 30-33 per cent due to the rumours. The government emphasised that the country has adequate inventories of all fuels, including petrol, diesel, LPG, and aviation turbine fuel, to meet normal demand.</p><p>"We have enough supplies of LPG, petrol and diesel. Prices are stable and there has been no increase in rates," Sharma added.</p><p> "I urge everyone to please don't believe in rumours. Avoid panic buying and rely on official sources for information," she said.</p><p>Retail petrol and diesel prices have remained unchanged for a record four years — since early April 2022 — despite significant volatility in global crude oil prices. Crude oil, which averaged around $70 per barrel last year, has surged to over $ 114 per barrel this month amid tensions in West Asia. </p><p>Officials have acknowledged that state-run fuel retailers are currently incurring substantial losses — estimated at around Rs 20 per litre on petrol and nearly Rs 100 per litre on diesel — as they continue to sell fuel below cost. </p><p>Some estimates suggest daily losses for oil marketing companies could be as high as Rs 2,400 crore. Despite these mounting losses, the government has maintained that there is currently no plan to revise pump prices. In Delhi, petrol is currently priced at Rs 94.77 per litre, while diesel is sold at Rs 87.67 per litre.</p>
<p>New Delhi: Dismissing widespread speculation of an imminent hike in petrol and diesel prices after the conclusion of polling in West Bengal on April 29, the Centre on Tuesday said that it has no plans to increase fuel rates. </p><p>"There is no proposal to increase petrol and diesel prices," Sujata Sharma, Joint Secretary in the Ministry of Petroleum and Natural Gas, told media during a news briefing on the fallout of developments in West Asia.</p><p>Sharma was responding to questions about whether retail fuel prices would be revised once polling in the assembly elections in West Bengal and other states ends on Wednesday.</p>.Thousands of motorists throng fuel outlets fearing petrol, diesel shortage in Andhra Pradesh.<p>She also addressed reports of panic buying triggered by rumours of a price rise, particularly in parts of Andhra Pradesh, where more than 400 petrol pumps reportedly ran dry on Sunday.</p><p>"We have seen panic buying in some places. We are in continuous contact with state governments. All retail outlets are being monitored and supplies are being prioritised so that stock availability is ensured and there are no dry-outs," Sharma said.</p><p>According to the Petroleum Ministry, some outlets witnessed a sudden surge in demand by as much as 30-33 per cent due to the rumours. The government emphasised that the country has adequate inventories of all fuels, including petrol, diesel, LPG, and aviation turbine fuel, to meet normal demand.</p><p>"We have enough supplies of LPG, petrol and diesel. Prices are stable and there has been no increase in rates," Sharma added.</p><p> "I urge everyone to please don't believe in rumours. Avoid panic buying and rely on official sources for information," she said.</p><p>Retail petrol and diesel prices have remained unchanged for a record four years — since early April 2022 — despite significant volatility in global crude oil prices. Crude oil, which averaged around $70 per barrel last year, has surged to over $ 114 per barrel this month amid tensions in West Asia. </p><p>Officials have acknowledged that state-run fuel retailers are currently incurring substantial losses — estimated at around Rs 20 per litre on petrol and nearly Rs 100 per litre on diesel — as they continue to sell fuel below cost. </p><p>Some estimates suggest daily losses for oil marketing companies could be as high as Rs 2,400 crore. Despite these mounting losses, the government has maintained that there is currently no plan to revise pump prices. In Delhi, petrol is currently priced at Rs 94.77 per litre, while diesel is sold at Rs 87.67 per litre.</p>
