Leading to more inflation, growth forecasts slashed: Congress on fuel hikes

On Friday (Might 15, 2026), petrol and diesel costs had been elevated by Rs 3 per liter every, the primary enhance in over 4 years. File | Picture credit score: Nagara Gopal

The Congress on Friday (Might 15, 2026) attacked the Modi authorities over the hike in petrol and diesel costs, saying it was certain to result in additional inflation and progress forecasts can be slashed.

Congress common secretary Jairam Ramesh stated in a submit on

However that did not occur, and shoppers had been “escaped,” he stated.

“With worldwide oil costs rising because of the West Asian conflict triggered by the Prime Minister’s pals the US and Israel, and now that the parliamentary elections are over, the Modi authorities has elevated petrol and diesel costs after earlier rising industrial LPG costs.

“That is certain to result in additional inflation, which is anticipated to be shut to six% this fiscal. Progress forecasts will probably be considerably lowered,” Ramesh stated.

Petrol and diesel costs had been hiked by Rs 3 per liter every on Friday (Might 15, 2026), the primary enhance in additional than 4 years, as gasoline retailers face mounting losses as a result of hovering world oil costs.

The rise comes 16 days after meeting elections concluded in Assam, Kerala, Tamil Nadu and West Bengal. Gasoline costs remained unchanged all through the voting interval, regardless of a pointy rise in worldwide oil costs within the wake of the West Asian battle.

Petrol worth has been elevated from 94.77 ₹ per liter to 97.77 ₹ per liter within the capital. Business sources stated the value of diesel was once 87.67 kilos per litre, however now it’s 90.67 kilos.

Costs have been frozen since April 2022, however petrol and diesel costs will probably be briefly lowered by Rs 2 per liter every in March 2024, simply earlier than the Sabah elections. The final charge hike was in April 2022.

For years when worldwide oil costs had been weak or falling, the Indian Nationwide Congress has been advocating that the advantages needs to be handed on to Indian shoppers and that home gasoline, gasoline and diesel costs needs to be lowered. However that did not occur and…
— Jairam Ramesh (@Jairam_Ramesh) Might 15, 2026

Petrol worth in Mumbai is at the moment ₹106.68 per liter and diesel ₹93.14 per liter. In Kolkata, petrol is at the moment priced at ₹108.74 and diesel at ₹95.13 per liter, whereas in Chennai the value has elevated to ₹103.67 for petrol and ₹95.25 for diesel.

As a consequence of variations in value-added taxes, tax charges range from state to state.

Though gasoline costs are formally deregulated, revisions are sometimes influenced by political issues.