Another attack of Petrol and diesel prices on Indians

Petrol and diesel prices have once again become a major concern for ordinary citizens, as fuel costs continue to rise every few days. On May 25, fuel prices were increased yet again, with petrol becoming ₹2.61 per litre more expensive and diesel rising by ₹2.71 per litre. This marked the fourth price hike within just two weeks, adding further pressure on household budgets. According to PTI, the latest revision pushed petrol prices in Delhi to ₹112.12 per litre, while diesel reached ₹95.20 per litre, making daily commuting increasingly expensive for millions of people.

The repeated increase in fuel prices has sparked a political debate, with the opposition accusing the government of burdening the common man despite a decline in global crude oil prices. Congress President Mallikarjun Kharge questioned why Indian consumers are paying more when international crude oil has become cheaper. Referring to official PIB data, he pointed out that when Prime Minister Narendra Modi took office on May 26, 2014, the Indian crude oil basket was priced at around $108 per barrel, with the exchange rate at ₹58.59 per US dollar. At that time, petrol cost ₹71.51 per litre, while diesel was available at ₹56.71 per litre.https://www.swastika.co.in/blog/indian-oil-share-price-and-petrol-price-stability-in-july-2026-a-retail-investor

Petrol Prices have increased by nearly 48.8%

Kharge argued that in 2026, crude oil is trading below $99 per barrel, yet petrol and diesel prices have climbed to ₹112.12 and ₹95.20 per litre, respectively. He questioned why consumers are paying significantly higher prices when the government’s cost of importing crude oil has declined. According to him, petrol prices have increased by nearly 48.8% and diesel prices by approximately 67.9%, despite lower international crude prices. He emphasized that every economist understands the far reaching impact of fuel inflation, as higher transportation costs eventually make food, essential goods, and services more expensive, increasing the financial burden on ordinary families.

Fear of unemployment, factories may shut down

Speaking on the issue, Kharge alleged that if fuel prices continue to rise at such a rapid pace, inflation will worsen, unemployment will increase, factories may shut down, and small scale industries could struggle to survive. Congress MP Manish Tewari also criticized the government, claiming that while oil marketing companies are posting record profits, the common citizen continues to suffer. He highlighted that HPCL, BPCL, and Indian Oil, which together control nearly 90% of India’s fuel market, reportedly earned combined profits of more than ₹70,000 crore during the 2025-26 financial year, including nearly ₹19,000 crore in the final quarter alone. According to Tewari, such profits raise serious questions about why fuel prices continue to rise while consumers bear the financial burden.https://unbiasedpollkhol.com/

Government’s explanation

The government, however, has offered a different explanation. Sujata Sharma, Joint Secretary at the Ministry of Petroleum and Natural Gas, stated on May 25 that government owned oil companies are facing losses of nearly ₹600 crore every day, making fuel price increases unavoidable. According to the government’s position, rising operational costs and financial losses have forced oil companies to revise retail prices. This directly contradicts the opposition’s claim that oil companies are making extraordinary profits at the expense of consumers, leaving the public caught between two conflicting narratives.

Budgets disrupted

Meanwhile, ordinary people continue to feel the impact of rising fuel costs in their daily lives. Many commuters now think twice before using their vehicles, as transportation expenses continue to climb. During the month of May alone, fuel prices were revised four times on May 15, prices increased by ₹3.30 per litre; on May 19, they rose by another 90 paise; on May 23, petrol increased by 87 paise and diesel by 91 paise; and finally, on May 25, another substantial hike was announced. With repeated increases within a single month, many households have seen their monthly budgets disrupted. As consumers wait for the next price revision, one question remains at the center of the debate: if global crude oil prices are falling, why are petrol and diesel becoming more expensive in India, and when will consumers finally receive some relief?