Will lead to further inflation, growth estimates will be lowered considerably: Congress on fuel hike
The Congress criticized the Modi government for increasing petrol and diesel prices, claiming it will exacerbate inflation and lower growth estimates. The party's general secretary, Jairam Ramesh, stated that despite falling international oil prices for years, domestic prices remained high, leading to consumer exploitation. Fuel prices were hiked by ₹3 per litre each on Friday (May 15, 2026), marking the first increase in over four years and coming after a period of price freezes. The hike was attributed to rising global crude prices triggered by the West Asia conflict and is expected to impact inflation and growth estimates.
26 MAY 2026
— The Hindu
India is implementing a multi-pronged strategy to mitigate the impact of global energy market disruptions on its consumers.
— The Hindu
Farmers across multiple Indian states are experiencing fuel shortages due to price hikes implemented by the Centre to mitigate losses for oil marketing companies.
31 MAY 2026
— Livemint
India's reliance on Gulf region imports for crude oil, natural gas, and LPG was disrupted due to the US-Iran conflict, leading to concerns about supply disruptions.
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