Petrol Diesel Price Hike: Several media reports have indicated that the prices of petrol and diesel across the country may be revised on May 1, 2026. The Central Government is facing intense pressure not to revise the fuel prices despite the ongoing Middle East crisis, fall of the Indian Rupee and Brent Crude crossing the mark of $111.
It is only a matter of time before Oil marketing companies (OMCs) in India fell to the continuing inflationary pressure and market conditions.
DON'T MISS
Statement By Rahul Gandhi
Congress leader Rahul Gandhi has issued a stern warning to Indians saying that the government would increase petrol and diesel prices as soon as assembly elections in the five states are completed on April 29, 2026.
Gandhi also blamed the Modi government of allegedly profiteering from low crude oil prices in the past and added that it would not shy or think twice before shifting the burden on the general public as the global oil prices are rising now.
Petrol Diesel Price Hike-Response From Union Government
Sujata Sharma, joint secretary in the petroleum and natural gas ministry, has commented that the Indian government is not considering any proposal whatsoever to raise the prices of petrol and/or diesel from May 1 as suggested by several media reports.
Interestingly, retail diesel and petrol prices have stayed unchanged for a consecutive 4th year even as the Middle East crisis has pushed the prices of crude oil by more than 50 percent over the last 2 months.
Assembly polls in Keralam, Puducherry, Tamil Nadu and Assam are already completed; the second and last phase of West Bengal assembly elections are ongoing today and results of voting in all 5 states would be announced on May 4, 2026.
Fears of an increase in petrol and diesel prices had triggered panic buying in many parts of the country. Long queues were reported at several fuel stations and outages were witnessed in some areas, due to hoarding.
