Fuel Sales Surge Across India Amid Expectations of Post-Election Price Hike
Government denies price hike plans as petrol and diesel sales jump 13% year-on-year
Quick Look
- Petrol and diesel sales in India surged more than 13% year-on-year during April 1-21, driven by consumer expectations of a price increase after state elections conclude on April 29.
- Indian Oil Corporation reported the sales jump while the petroleum ministry denied any plans for a fuel price hike, calling news reports suggesting a Rs 25-28 per litre increase "mischievous and misleading." Despite government assurances, panic buying has been reported in parts of the country.
AI-generated summary
New Delhi: Petrol and diesel sales are surging amid expectations of a price hike after state elections conclude on April 29. Indian Oil Corp said Thursday petrol and diesel sales at its pumps rose more than 13% year-on-year during April 1-21. By comparison, petrol sales grew 6.5% and diesel 3.6% in FY26.
"This increased demand (in April) has been efficiently met... without any disruption," the company said, assuring customers that supplies of petrol and diesel remain "normal and uninterrupted."
Despite government and industry assurances of ample fuel availability, panic buying has been reported in parts of the country. The surge in sales also appears linked to expectations of a price hike after voting in state elections concludes later this month.
"There are some news reports suggesting a price hike of petrol and diesel. It is hereby clarified that there is no such proposal under consideration by the government," the petroleum ministry said in a post on X on Thursday, after reports, citing a brokerage, suggested a possible increase of ₹25-28 per litre post-elections. "Such news items are designed to create fear and panic among citizens and are mischievous and misleading."
