On Thursday, the administration clarified that no such proposal is being considered, rejecting reports that suggested a price increase of Rs 25–28 for petrol and diesel.
"Some news reports indicate that the cost of gas and diesel may increase. It is hereby made clear that the government is not considering any such suggestion. In a post on X, the Ministry of Petroleum and Natural Gas stated, "Such news items are mischievous and misleading and are intended to create fear and panic among the citizens."

Petrol and diesel prices in India may rise significantly once the current Assembly elections conclude on April 29, according to a forecast by Kotak Institutional Equities. Kotak's estimate of an increase of Rs 25–28 per litre is predicated on the price of crude oil remaining near $120 per barrel.
India is the only nation where the cost of fuel and diesel has not gone up in the past four years, the government reaffirmed.
The government and oil Public Sector Undertakings (PSUs) have been working nonstop to shield Indian citizens from sharp rises in global prices amid the ongoing conflict in the Middle East. "The Middle East crisis has led to an abnormal increase in crude prices,"In a recent statement, the ministry stated that in order to shield customers from the price increase, the Center has lowered the excise tax on petrol and diesel by Rs 10 per litre.
The prolonged conflict between the United States, Israel, and Iran has produced problems in the Strait of Hormuz, which has contributed significantly to the increase in oil prices worldwide. Prices have increased as a result of military interference blocking the vital route for energy supply.
The government confirmed in a statement released on Wednesday that all refineries are running at full capacity with sufficient crude inventories, and that the nation maintains adequate supplies of petrol and diesel.

It further stated that, according to the Center for High Technology (CHT), the government has allowed oil refinery businesses, including Petrochemical Complexes, to provide specific minimum amounts of C3 and C4 streams for key sectors.