New Delhi: Fuel prices across India witnessed a sharp increase on Friday after state-run oil companies raised petrol and diesel rates by ₹3 per litre, triggering political backlash and fresh concerns over inflation amid rising global crude oil prices linked to the escalating West Asia crisis.
The hike — the first significant revision in fuel prices in nearly four years — came shortly after Prime Minister Narendra Modi appealed to citizens to adopt austerity measures, including reducing fuel consumption, cutting unnecessary travel and avoiding wasteful spending to help the economy cope with global uncertainties.
Following the revision, petrol prices in Delhi climbed close to ₹98 per litre, while diesel prices crossed ₹90 per litre. Similar increases were reported across major cities as Indian Oil, Bharat Petroleum and Hindustan Petroleum revised retail rates.
Petrol and diesel prices rise by Rs 3 across India; check out the latest rates#FuelPriceHike #Petrol #Diesel #India pic.twitter.com/pKEQKJ2sga
— IndiaToday (@IndiaToday) May 15, 2026
Opposition Alleges ‘Post-Election Burden’
Opposition parties launched a coordinated attack on the BJP-led Centre, accusing the government of postponing the fuel hike until after the recently concluded Assembly elections.
The Congress alleged that the Centre had shielded voters from rising costs during the election season only to impose the burden afterward. Senior party leaders claimed the government was using citizens to compensate for mounting fiscal pressures caused by global oil volatility.
Congress leader Rahul Gandhi had earlier warned that fuel prices could rise after elections, while Congress general secretary Jairam Ramesh said the increase would worsen inflation and place additional strain on middle-class and lower-income households.
Akhilesh Yadav also criticised the move, remarking that rising fuel costs could make bicycles the only affordable mode of transport for common citizens.
The Trinamool Congress termed the price hike “predictable” and accused the Centre of passing the burden of economic stress onto ordinary people immediately after polls.
🎙️Oil marketing companies hike Petrol and Diesel prices by three rupees per litre.
🎙️Government caps duty-free gold imports at 100 kg under Advance Authorisation scheme. pic.twitter.com/vF68Tq1k45
— All India Radio News (@airnewsalerts) May 15, 2026
Global Crude Surge Cited
The Centre and oil marketing companies defended the increase, pointing to soaring international crude oil prices amid fears of supply disruptions through the Strait of Hormuz due to tensions involving Iran.
India imports over 80 per cent of its crude oil requirements, making the domestic market highly sensitive to fluctuations in global energy prices.
Officials indicated that public sector oil companies had been absorbing substantial losses for several weeks as international crude prices surged sharply. Petroleum Minister Hardeep Singh Puri had recently warned that prolonged high crude prices could severely impact the financial health of fuel retailers.
Modi’s Austerity Appeal Sparks Political Debate
Prime Minister Narendra Modi had urged citizens to conserve fuel, use public transport wherever possible and reduce avoidable expenditure as part of efforts to shield the Indian economy from the fallout of the Iran conflict and global energy uncertainty.
However, the appeal triggered criticism from opposition parties, which accused the government of preparing citizens for economic hardship while failing to control inflation and fuel prices.
Economists have also cautioned that the fuel price hike could trigger a ripple effect across the economy by increasing transportation and logistics costs, potentially pushing up prices of food items and essential commodities in the coming weeks.
