On May 15, 2026, the Bharatiya Janata Party (BJP) defended the recent fuel price hike, stating that India's inflation rate of 3.2% is one of the lowest among major economies. The party highlighted that global energy prices have surged due to geopolitical tensions, but India has managed to keep price increases relatively modest.
According to official data, India's retail inflation measured by the Consumer Price Index (CPI) stood at 3.2% in April 2026, within the Reserve Bank of India's target range of 2-6%. This compares favorably to other major economies, such as the United States (3.5%), the Eurozone (2.8%), and the United Kingdom (3.1%).
The fuel price hike, which took effect on May 10, 2026, saw petrol and diesel prices increase by approximately βΉ2 per liter. The BJP argued that this adjustment was necessary to align with global crude oil prices, which have risen due to supply constraints and geopolitical instability.
Opposition parties criticized the move, arguing that it burdens consumers already facing high living costs. However, the BJP maintained that the government's policies have kept overall inflation in check, and the fuel hike is a temporary measure to ensure fiscal stability.
