Petrol diesel price hike: Congress slams Modi govt – ‘Inflation man unleashed whip on public’

7 hours ago 1

ARTICLE AD BOX

Congress party linked the fuel price hike to the completion of the Assembly election in four states and one union territory, said that PM Modi's ‘vasooli (extortion) begins’ after the elections.

Newly increased fuel prices are displayed at a petrol pump in Malvan, India, May 15, 2026. REUTERS/Francis Mascarenhas

The Opposition parties on 15 May launched a scathing attack on Prime Minister Narendra Modi-led Union government over fuel price hike announced on 15 May. The opposition accused PM Modi of unleashing ‘the whip’ on the public after the Centre increased petrol and diesel prices by ₹3 across the country.

Congress party linked the fuel price hike to the completion of the Assembly election in four states and one union territory, said that PM Modi's "vasooli (extortion) begins" after the elections.

"Inflation Man Modi has once again unleashed the whip on the public today. Petrol and diesel have been increased by 3-3 rupees. Meanwhile, CNG prices have also been raised by 2 rupees. Elections over - Modi's extortion begins," Congress said.

Bicycle the only option: Akhilesh Yadav

Spamajwadi Party chief Akhilesh Yadav suggested shifting to bicycle use. “If you want to move forward, the bicycle is the only option,” Yadav wrote on X.

Bicycle is election symbol of Samajwadi Party.

The price hike also comes less than two weeks after state assembly elections in Assam, Kerala, Tamil Nadu, and West Bengal. Polls in Assam and Kerala were held on 9 April, in Tamil Nadu and the first phase of voting in West Bengal on 23 April, and ended in 29 April with the second phase of polling in West Bengal. The results were announced on 4 May

Petrol price was hiked to ₹97.77 per litre from ₹94.77 in the national capital. Diesel now costs ₹90.67 as against ₹89.67 per litre previously, according to industry sources.

The increase is a 10th of the desired hike needed to account for the surge in global energy rates since the start of the West Asia conflict.

State-owned oil firms had kept fuel price unchanged for 11 weeks despite a surge in input cost, but passed on part of the increase once operations became financially unsustainable, the sources said.

First hike since April 2022

Prices have remained on freeze since April 2022, but had a one-off reduction of ₹2 a litre each on petrol and diesel in March 2024 just before the Lok Sabha elections.

State-owned Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPCL) and Hindustan Petroleum Corporation Ltd (HPCL) had abandoned the daily price revision in April 2022 to insulate domestic consumers from a steep price increase that was warranted because of international oil prices shooting through the roof post Russia's invasion of Ukraine.

They incurred heavy losses in the first half of the 2022-23 fiscal year, which they recouped when rates fell in subsequent months.

But the war in West Asia has again sent international oil prices soaring by over 50 per cent.

The basket of crude oil that India imports averaged USD 69 per barrel in February before the war in West Asia broke out. It averaged USD 113-114 per barrel in subsequent months.

(With agency inputs)

Key Takeaways

The recent fuel price hike follows a four-year hiatus and comes shortly after state assembly elections.
Opposition parties, particularly Congress, have criticized the timing of the price increase as a form of exploitation.
International oil prices have surged significantly due to geopolitical conflicts, impacting domestic fuel pricing.

About the Author

Gulam Jeelani

Gulam Jeelani is Political Desk Editor at LiveMint with over 16 years of experience covering national and international politics. Based in New Delhi, Jeelani delivers impactful political narratives through breaking stories, in-depth interviews, and analytical pieces at LiveMint since February 2024. The expertise in video production fuels his current responsibilities, which include curating content and conducting video interviews for an expanding digital audience. Jeelani also travels during elections and key political events and has covered assembly elections in key states apart from national elections. He has previously worked with The Pioneer, Network18, India Today, News9Plus and Hindustan Times. Jeelani’s tenure at LiveMint and previous experience at print and digital newsrooms have honed his skills in creating compelling text and video stories, explainers, and analysis that resonate with a diverse viewership. Before moving to New Delhi in 2015, Jeelani was based in Uttar Pradesh, where he worked for five years as a reporter. In 2018, Jeelani was one of the two Indian journalists selected for the Alfred Friendly Fellowship in the US. There, he attended training workshops on reporting and data journalism, and he was attached to the Minneapolis Star Tribune in Minnesota, where he worked as a reporter. Jeelani is a Bachelor's in Chemistry and holds a Masters Degree in journalism and mass communication from Aligarh Muslim University. Outside work, he enjoys poetry, cricket and movies.

Read Entire Article