Commodities
India's Petroleum Ministry Denies Fuel Price Hike Reports
The Indian government has denied reports of an impending fuel price hike, calling such claims 'fake' and 'misleading'.
The Ministry of Petroleum and Natural Gas (MoPNG) took to social media platform X to clarify that there is no proposal under consideration to increase petrol and diesel prices.
The ministry noted that retail fuel prices have remained unchanged in the country, with oil marketing companies absorbing fluctuations in international crude costs.
India is one of the few countries where petrol and diesel prices haven't increased in the last 4 years, due to sustained efforts by the government and public sector oil companies to insulate citizens from steep increases in international prices.