Government Denies Petrol, Diesel Price Hike from May 1

The petroleum ministry has denied any plan to raise petrol or diesel prices from May 1, pushing back against widespread speculation of an imminent hike. A ministry official made the clarification directly, calling out the rumours that had already started changing consumer behaviour on the ground. The speculation had gained traction after key state elections concluded, a period when fuel price changes are often expected since governments typically avoid hikes during active campaign seasons. That pattern appears to have triggered fears this time, even without any official signal. The rumours were enough to cause panic buying and long queues at fuel stations in several areas, showing how quickly pricing expectations can affect real-world demand. Fuel prices in India are set by state-run oil marketing companies and have been held steady for an extended period. The denial puts a floor under the immediate anxiety, but watch for any official revision to retail fuel pricing in the weeks ahead, particularly if global crude prices shift or subsidy pressures on oil companies build further.