The BJP on Friday (May 15, 2026) defended the hike in fuel prices, saying India had managed to shield citizens from the global oil shock for more than two months by introducing only “limited and calibrated” hikes, even as several countries witnessed a sharp rise in prices.
The remarks came after petrol and diesel prices rose by ₹3 per liter each, the first increase in more than four years, amid mounting losses suffered by oil marketing companies due to rising global crude prices.
Prime Minister Narendra Modi recently proposed measures to reduce fuel consumption, including the use of metro services, ride-sharing, electric vehicles and work-from-home measures to help preserve foreign reserves amid the crisis in West Asia.
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In a post on X, BJP IT chief Amit Malviya said India saw one of the lowest increases among major economies, with petrol prices up 3.2% and diesel up 3.4%.
“The ₹3 per liter increase announced on May 15 is effectively the first increase in fuel prices in almost four years and at a base price of around ₹95 per litre, it represents only about a 3.5% increase,” he said.
“India has emerged as a stark and notable exception in this whole picture. India has seen the lowest growth among major economies,” he added.
The BJP leader claimed that India’s public sector oil companies, which account for nearly 90% of the retail fuel market, absorbed the bulk of the 76-day rise in oil costs after the West Asian crisis intensified.
“For 76 days after the West Asian crisis intensified, India’s public sector oil companies did not pass on the full burden of rising international oil prices to consumers. They absorbed a significant portion of the cost themselves,” he said.
Citing reports, he claimed that under-recovery has risen to nearly Rs 1,000 crore per day.
“With the Strait of Hormuz facing disruption and oil supplies affected, Brent crude remained above $100 a barrel for most of April and May. The impact was directly visible at gas stations in almost every major economy,” he said.
He claimed that between February 23 and May 15 this year, several countries including Malaysia, the United Arab Emirates and the US witnessed a sharp rise in fuel prices.
Sharing the data, Mr. Malviya claimed that Pakistanis are paying nearly 55% more for fuel than three months ago, while Malaysia has seen an increase of over 56%. In the United States, prices rose by almost 45%.
“Diesel prices have increased by 50% to 100% in several countries, especially since diesel directly affects the movement of goods, trade and logistics,” he said.
“Only Saudi Arabia did not see any increase due to its direct subsidy mechanism. But among major economies, India remained the country where the burden on ordinary citizens was the lowest,” he added.
He said fuel price controls have a direct impact on inflation as they affect transport, food prices, logistics, construction costs and household budgets.
“The real story is that while most countries around the world have seen petrol and diesel prices increase by 10%, 20%, 50% and in some cases even 90%, India has managed to limit the increase to around 3%,” Mr Malviya said.
BJP national spokesperson Pradeep Bhandari also accused the Congress of indulging in “political opportunism” at a time of global energy crisis.
“In India, fuel prices have increased by only 3 percent compared to a global average increase of over 20% t.
“140 million Indians espouse economic patriotism under Prime Minister Narendra Modi,” he said in a post on X.
Published – 15 May 2026 14:32 IST
