A bustling Indian fuel station with people filling containers and vehicles.
Fuel sales across India have seen a significant 13% increase as consumers rush to stock up on petrol and diesel. This surge is primarily driven by widespread expectations of a price hike once the ongoing state elections conclude.
Major fuel retailer Indian Oil Corporation has reported a substantial jump in sales volumes. Despite these consumer actions and market observations, the government has issued statements denying any plans for an immediate fuel price increase.
Nevertheless, the anticipation of higher prices has led to panic buying in several regions, contributing to the sharp rise in demand.
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