Petrol Diesel Price: Will petrol and diesel really become expensive after April 29? Oil sales increased by 13%

News India Live, Digital Desk: Once again the market of rumors is hot regarding the prices of petrol and diesel in the country. It is being claimed in social media and some reports that as soon as the assembly elections in the states (like West Bengal) are over, i.e. after April 29, there may be a huge increase in oil prices by Rs 25 to 28 per liter. There is panic among the general public due to the fear of this ‘price hike’, the direct effect of which is visible on the petrol pumps. A huge jump of 13 percent has been recorded in fuel sales in the first three weeks of April itself. Panic Buying: There is a rush to stock up. Due to fear of increasing prices, people are busy filling the tanks of their vehicles and storing oil in the cans. According to Indian Oil Corporation (IOCL) data, there has been an unexpected increase in the demand for petrol and diesel between April 1 and 21. While this increase was normal in the same period last year, this time the jump of 13% shows that the public is scared about the date of April 29. However, petroleum companies have clarified that they have no shortage of supply and they are handling this increased demand very well. Government bluntly: ‘This is just a rumor and misleading news’ Amidst the huge uproar and increasing demand, the Ministry of Petroleum and Natural Gas has issued an official statement and clarified the situation. The government has termed the news of increase of Rs 25-28 circulating on social media as ‘mischievous and misleading’. The ministry posted on ‘X’ that the government currently has no proposal under consideration to increase the prices of petrol and diesel. According to the ministry, such news is being spread only with the aim of creating fear and panic among the citizens. How much oil reserves does India have? The government has also clarified the situation on the questions being raised regarding the supply. As per data till the end of March 2026:Strategic Reserves (SPR): India has about 3.37 million metric tonnes of crude oil in strategic reserves located in Visakhapatnam, Mangaluru and Padur (64% of the capacity). Total Security Cover: If the commercial stocks held by oil companies are also added to this, India has about 74 days of safe oil reserves. Global Fluctuations: The government says that the global level But despite crude oil prices being close to $120 per barrel, India has given great relief to consumers by keeping prices stable in the last four years. What do experts say? The report by market experts (Kotak Institutional Equities) had mentioned ‘under-recovery’ (losses) of oil companies, on the basis of which speculations about increased prices were being made. According to the report, oil companies are incurring a loss of around ₹20 per liter on petrol and up to ₹100 per liter on diesel. However, the government has rejected these claims and said that there is no need for the public to panic and the supply will continue smoothly.