- Congress criticised the Modi government after fuel prices were increased by Rs 3 per litre.
- Jairam Ramesh warned that inflation could rise close to 6 percent.
- Fuel prices had remained unchanged during Assembly elections despite rising crude oil costs.
New Delhi: The Indian National Congress on Friday launched a sharp attack on the Modi government after petrol and diesel prices were increased by Rs 3 per litre amid rising global crude oil prices.
Congress general secretary Jairam Ramesh alleged that the Centre had failed to pass the benefits of lower international oil prices to Indian consumers over the past few years and was now burdening citizens with higher fuel costs after Assembly elections concluded.
The criticism came shortly after oil marketing companies announced the first major fuel price increase in more than four years.
Petrol Diesel Price Hike Congress Reaction Intensifies
In a post on X, Jairam Ramesh said the Congress had repeatedly urged the government to reduce domestic petrol, diesel and cooking gas prices when global crude oil prices were relatively soft.
According to him, consumers were instead “fleeced” while fuel taxes and prices remained elevated.
He further claimed that rising global oil prices linked to the ongoing West Asia conflict were now being directly transferred to consumers after the completion of Assembly elections in Assam, Kerala, Tamil Nadu and West Bengal.
The second-order effect of higher fuel prices could include broader inflation across transport, logistics, food supply and household expenses.
Fuel Price Hike Raises Inflation Concerns
Congress warned that the latest fuel price increase may significantly push up inflation levels in the current financial year.
Jairam Ramesh claimed inflation could approach 6 percent if crude oil prices continue to remain high.
Economists often view fuel price hikes as economically sensitive because they influence nearly every sector, including:
Transportation
Agriculture
Manufacturing
Consumer goods
Public services
Higher diesel prices, in particular, tend to affect freight movement and food distribution costs across the country.
Petrol and Diesel Prices Revised Across Major Cities
Following the latest hike:
- Petrol in New Delhi rose to Rs 97.77 per litre
- Diesel in Delhi increased to Rs 90.67 per litre
Other metro city rates now stand at:
Mumbai
Petrol: Rs 106.68 per litre
Diesel: Rs 93.14 per litre
Kolkata
Petrol: Rs 108.74 per litre
Diesel: Rs 95.13 per litre
Chennai
Petrol: Rs 103.67 per litre
Diesel: Rs 95.25 per litre
Fuel prices had largely remained frozen since April 2022 except for a one-time Rs 2 reduction announced before the 2024 Lok Sabha elections.
Crude Oil Prices and West Asia Conflict Drive Market Pressure
The fuel price increase comes amid sharp volatility in global crude oil markets caused by escalating tensions in West Asia.
India imports a large share of its crude oil requirement, making domestic fuel pricing highly sensitive to international market movement.
Analysts say the future direction of fuel prices will depend on:
- Crude oil trends
- Stability in West Asia
- Rupee-dollar exchange movement
- Government tax and subsidy decisions
With inflation fears rising again, the fuel price hike is expected to remain a major political and economic issue in the coming weeks.
Also Read | Petrol and Diesel Prices Hiked by Rs 3 Per Litre Across India, In Bhubaneswar Rs 3.57
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