Fuel sales are rising rapidly across India. Consumers are stocking up on petrol and diesel. This surge is driven by expectations of a price increase once state polls end. Indian Oil Corporation has reported a significant jump in sales. The governm...
By ET Bureau | Updated:
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.
ADVERTISEMENT
Panic buying in the wind "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."
