Congress Slams Modi Govt Over Fuel Price Hikes

Congress on Tuesday upped the ante against Prime Minister Narendra Modi-led central government after petrol and diesel prices were hiked by around 90 paise per litre, marking the second fuel price increase in less than a week following the end of a nearly four-year freeze by state-run oil companies.

Sharing a post on its official X account, the grand old party said, "The 'Inflation Man' Modi's whip has lashed out at the public again. Petrol and diesel have been hiked by 90 paise."

"This is just the beginning. The Inflation Man will extract even more now, because the elections are over," it added.

"Modi has jacked up prices by 4 rupees in the last 4 days. With this increase, petrol in the country has reached 109 rupees and diesel 96 rupees," the post further said.

Fuel prices rise for second time

The latest increase pushed petrol prices in New Delhi to Rs 98.64 per litre from Rs 97.77, while diesel rates climbed to Rs 91.58 from Rs 90.67, according to PTI sources.

This comes days after state-run oil marketing companies raised petrol and diesel prices by Rs 3 per litre on Friday, the first revision in over four years, amid rising global crude oil prices linked to the ongoing Iran conflict and disruptions around the Strait of Hormuz.

The rates continue to vary across states because of differences in value-added tax (VAT).

In Mumbai, petrol now costs Rs 107.59 per litre and diesel Rs 94.08.

In Kolkata, petrol prices rose to Rs 109.70 and diesel to Rs 96.07 per litre, while in Chennai, petrol is now priced at Rs 104.49 per litre and diesel at Rs 96.11.

CNG prices also increased

Compressed Natural Gas (CNG) prices have also seen multiple hikes this month.

On May 15, CNG prices were raised by Rs 2 per kg in cities including Delhi and Mumbai, while another increase of Re 1 per kg followed on Sunday.

Global crude oil prices have surged more than 50 per cent since US-Israeli strikes on Iran on February 28 and Tehran’s retaliation disrupted shipping flows through the Strait of Hormuz, one of the world’s most crucial oil transit routes.

Despite the sharp rise in crude prices, retail fuel rates in India had remained frozen for months.

The government had earlier said the freeze was aimed at shielding consumers from global energy shocks.

Earlier on Monday, Union petroleum and natural gas minister Hardeep Singh Puri said India successfully averted any shortage of crude oil, LPG and pipeline natural gas despite two major global conflicts disrupting international energy markets over the past four years.

Addressing media persons after attending a DISHA committee meeting in Varanasi, Puri said, "today, the war in West Asia is nearing 80 days. Earlier, the Russia-Ukraine war began in Feb 2022. These are two major wars within four years, and both created massive disruptions in the global energy sector."

However, opposition parties alleged that fuel prices were deliberately kept unchanged until elections in key states concluded.

Following Tuesday’s revision, petrol and diesel prices have reached their highest levels since May 2022.

Fuel prices had largely remained unchanged since April 2022, except for a one-time reduction of Rs 2 per litre on petrol and diesel announced in March 2024 ahead of the Lok Sabha elections.