“Why are petrol, diesel prices rising in creeping manner despite OMC’s super profits?” asks Manish Tewari, slams fourth hike

 Congress MP Manish Tewari on Monday questioned the rationale behind repeated fuel price hikes across the country, even as he cited strong profit growth reported by state-run oil marketing companies (OMCs).

In a post shared on X, Tewari asked Union Petroleum Minister Hardeep Singh Puri why petrol and diesel prices were being increased in a “creeping manner” despite what he described as “whopping profits” earned by public sector oil companies.

Citing financial figures, Tewari claimed that the three state-run OMCs collectively posted profits of Rs 77,280.65 crore in FY 2025-26, marking a 130 per cent jump compared to the previous financial year. He further said that even in the fourth quarter (January-March 2026), during heightened geopolitical tensions following strikes involving Israel and the United States on Iran, the companies recorded profits of Rs 19,470 crore–about 40 per cent higher than the same period last year.”Why @HardeepSPuri Why ? State Run Oil Marketing Companies ( OMC’s) made whopping profits in FY 2025 -26 . The Three OMC’s made a cumulative profit of Rs . 77,280.65 crores a 130% jump over FY 2024-25. Even in (Quarter 4, Jan -March 2026) Q-4 2025-26 when Isreal and US struck Iran the profit of the three OMC ‘s was Rs 19,470 crores a 40% jump over the same period last year,” Tewari wrote on X.

“When these OMC’s have made super profits why is the price of Petrol and Diesel being increased every day in a creeping manner?” Tewari added, also pointing to Delhi petrol prices at Rs 102.12 per litre and diesel at Rs 95.20 per litre, and Chandigarh petrol at Rs 98.12 per litre and diesel at Rs 86.09 per litre. .”While the OMC’s are making hay people are being crushed under a repressive pricing regime? Is this governance?” he asked.

Another Congress MP Manickam Tagore also joined the criticism of the government alleging that the Union Government was only working for corporated.”The “OMC loss” argument — DEMOLISHED: They say OMCs are losing ₹38/litre on diesel today. Let’s ask: Where did ₹81,000 crore go? IOC + BPCL + HPCL posted ₹81,000 crore RECORD PROFIT in FY24 — while you paid ₹100+/litre. They made profits for 7 quarters. Passed on ZERO to consumers. Crude crashed in 2016 — they hiked excise by ₹11/litre & kept it. OMCs made record profits FY24 — prices stayed high. Crude surges in 2026 — prices hiked within DAYS. Loss flows to YOU. Profit stays with THEM. And Modi calls this “shielding consumers”? 2014: Crude $114 → Petrol ₹72 2016: Crude $27 → Petrol ₹64 2026: Crude $97 → Petrol ₹103 OMCs didn’t share profits for 7 quarters. But passed losses in 7 days. Modi works for corporates. PROVED AGAIN,” he posted on X.

The remarks come amid the fourth round of fuel price hikes in less than two weeks, driven by sustained volatility in global crude oil markets and ongoing geopolitical tensions in West Asia.Following the latest revision, petrol prices in Delhi crossed the Rs 100-mark, rising by Rs 2.61 to Rs 102.12 per litre, while diesel increased by Rs 2.71 to Rs 95.20 per litre. Similar increases were recorded across major metro cities, including Kolkata, Mumbai and Chennai.

In Kolkata, petrol rose to Rs 113.51 per litre and diesel to Rs 99.82 per litre. Mumbai saw petrol at Rs 111.21 and diesel at Rs 97.83 per litre, while Chennai recorded petrol at Rs 107.77 and diesel at Rs 99.55 per litre. Jaipur also witnessed an increase, with petrol at Rs 112.66 per litre and diesel at Rs 97.78 per litre.The successive hikes have triggered public concern, with commuters expressing frustration over rising transport costs. Some citizens said the price rise was “tough for the common man,” while others pointed to the impact on taxi operators and daily travel expenses.

Meanwhile, Compressed Natural Gas (CNG) prices in Delhi were also raised by Rs 1 per kg on Saturday, further adding to the financial burden on households and transport operators.The repeated increases in petrol, diesel and CNG prices come amid pressure on oil marketing companies due to elevated global crude prices, currency fluctuations, and supply uncertainties linked to West Asia tensions, particularly concerns over key shipping routes such as the Strait of Hormuz.

The continued hikes in petrol, diesel and CNG prices are likely to increase logistics and transportation costs further, potentially triggering a cascading effect on retail inflation and impacting household budgets as well as commercial transport sectors across the country.