Congress Critiques Fuel Price Increases Amid Record Profits of Oil Companies
Congress questions fuel price hikes amid OMCs' massive profit jump
Asianet Newsable
Image: Asianet Newsable
Congress leaders, including Manish Tewari and Manickam Tagore, have criticized the Indian government for increasing fuel prices despite state-run oil marketing companies (OMCs) reporting record profits. Petrol prices in major cities have surged past ₹100 per litre, raising public concern over the financial impact on consumers and transport operators.
- 01Congress MP Manish Tewari highlighted that the three state-run OMCs reported a cumulative profit of ₹77,280.65 crore in FY 2025-26, a 130% increase from the previous year.
- 02Fuel prices in Delhi have risen to ₹102.12 per litre for petrol and ₹95.20 per litre for diesel, with similar hikes across major cities like Mumbai and Kolkata.
- 03The price hikes are attributed to volatility in global crude oil markets and geopolitical tensions, particularly in West Asia.
- 04Tewari questioned the rationale behind the price increases, stating that consumers are being burdened while OMCs enjoy substantial profits.
- 05The repeated increases in fuel prices are expected to raise logistics costs, potentially impacting retail inflation and household budgets.
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Congress leaders have expressed strong criticism regarding the recent hikes in fuel prices, questioning the justification for these increases given the substantial profits reported by state-run oil marketing companies (OMCs). Manish Tewari, a Congress MP, pointed out that OMCs collectively earned ₹77,280.65 crore in profits during FY 2025-26, marking a 130% increase compared to the previous year. Despite these profits, petrol prices in Delhi have crossed ₹100 per litre, with similar increases noted in other major cities such as Mumbai and Kolkata. Tewari and fellow Congress MP Manickam Tagore argued that the government is prioritizing corporate profits over consumer welfare, highlighting that while OMCs have reported record profits, the burden of price increases is falling on the public. The ongoing hikes have raised concerns among commuters about rising transport costs, particularly affecting daily travel expenses. These developments are occurring against a backdrop of global crude price volatility and geopolitical tensions, which are likely to further impact logistics and retail inflation across the country.
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The increase in fuel prices is likely to raise transportation and logistics costs, affecting consumers and businesses nationwide.
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