NEW DELHI:The government on Thursday dismissed reports suggesting petrol and diesel prices may be hiked by Rs 25-28 a litre soon after assembly elections, saying there is no such proposal under consideration.

“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 Ministry of Petroleum and Natural Gas said in a post on X.

The clarification came after a report by Kotak Institutional Equities hinted of a steep increase in petrol and diesel prices once the polling for assembly elections in states like West Bengal ends on April 29. Kotak projected a Rs 25-28 a litre increase in price based on crude oil staying close to USD 120 per barrel.