New Delhi, May 3 -- The government on Sunday rejected rumours of an automobile fuel shortage and an anticipated retail price hike that had led to "panic buying" in parts of the country. The petroleum ministry assured of adequate petrol and diesel stocks and said their retail prices were unchanged. It also said while cooking gas supplies remained strained due to the West Asia war, household demand had been being prioritized and no shortages have been reported.

"Panic buying is observed at certain retail outlets due to rumours. It is informed that there are adequate stocks of petrol and diesel available at all petrol pumps in the country," the ministry's statement said. "Regular retail prices for petrol and diesel are unchanged and there i...