‘Why are petrol, diesel prices rising despite OMCs’ super profits?’ Congress MP Manish Tewari slams fourth hike
In a post shared on
From where @HardeepSPuri From where ?
State-Run Oil Marketing Companies (OMCs) have made huge profits in FY 2025-26.
The three OMCs cumulatively made a profit of Rs. 77,280.65 crore, an increase of 130% over FY 2024-25.
Even in the 4th Quarter of 2025-26 (4th Quarter, January – March 2026), when Isreal and the USA attack… pic.twitter.com/Ls0QYktVzM
— Manish Tewari (@ManishTewari) May 25, 2026
Citing financial figures, Tewari claimed that the three state-run OMCs collectively made a profit of Rs 77,280.65 crore in the financial year 2025-26, marking a 130 per cent increase compared to the previous financial year. He also said that in the fourth quarter (January-March 2026), even during rising geopolitical tensions following Israeli and US attacks on Iran, companies made a profit of 19,470 billion rupees, nearly 40 percent higher than the same period last year.
Also Read: Increase in diesel and gasoline prices: Fuel prices increased for the fourth time since the start of the Iran war
“Why @HardeepSPuri Why? State-run Oil Marketing Companies (OMCs) made huge profits in FY 2025-26. Three OMCs made cumulative profits of Rs 0.77,280.65 billion, an increase of 130% over FY 2024-25. Even (Q4, January-March 2026) Q4 Even in 2025-26, when Isreal and the US attacked Iran, the profits of the three OMCs were Rs 19,470 crore, an increase of 40% over the same period last year,” Tewari wrote to X.
“Why are Petrol and Diesel prices being increased at a crawl every day when these OMCs are making super profits?” Tewari also stated that in Delhi, petrol prices are 102.12 rupees per liter, diesel prices are 95.20 rupees per liter, Chandigarh petrol prices are 98.12 rupees per liter and diesel prices are 86.09 rupees per liter.
“People are being crushed under an oppressive pricing regime while OMCs are making hay? Is this management?” he asked. Another Congress MP Manickam Tagore also joined the criticism against the government, claiming that the Union Government was working only for corporates.
“OMC loss” argument – DEMOLITED: They say OMCs lost ₹38/litre on diesel today. Let’s ask: Where did ₹81,000 crore go? IOC + BPCL + HPCL reported RECORD PROFIT of ₹ 81,000 crore in FY24 – while you paid ₹ 100+/litre. They made a profit for 7 quarters. Passed ZERO fell to consumers – They increased excise duty by 11 per liter and OMCs made record profits in FY2026 – prices remain high in 2026 – Loss flows to YOU And Modi calls this “protecting consumers”? 2016: Crude oil $27 → Oil ₹ 64 2026: Crude oil $97 → Oil ₹ 103 OMCs did not share their profits for 7 quarters but crossed their losses within 7 days.
These statements come amid a fourth round of fuel price increases in less than two weeks due to persistent volatility in global crude oil markets and ongoing geopolitical tensions in West Asia.
After the latest revision, petrol prices in Delhi increased by Rs 2.61 to Rs 102.12, while diesel prices increased by Rs 2.71 to Rs 95.20 per liter. Similar increases were recorded in major metros such as Kolkata, Mumbai and Chennai.
In Kolkata, petrol rose to 113.51 rupees per liter and diesel rose to 99.82 rupees per liter. While Mumbai saw petrol priced at Rs 111.21 per liter and diesel at Rs 97.83 per liter, Chennai recorded petrol priced at Rs 107.77 per liter and diesel at Rs 99.55 per litre. Jaipur also witnessed a rise, with petrol priced at 112.66 rupees per liter and diesel at 97.78 rupees per liter.
The successive increases have caused public concern, with commuters expressing frustration over rising transport costs. While some citizens said the price increase was “difficult for the common man”, others noted the impact on taxi operators and daily travel costs.
Meanwhile, Compressed Natural Gas (CNG) prices in Delhi were also increased by Rs 1 per kg on Saturday, further increasing the financial burden on households and transport operators.
The sustained increases in gasoline, diesel and CNG prices come amid pressure on oil marketing companies due to rising global crude oil prices, currency fluctuations and supply uncertainties linked to West Asian tensions, particularly concerns over key shipping routes such as the Strait of Hormuz.
Continued increases in gasoline, diesel and CNG prices are expected to further increase logistics and transportation costs, potentially creating a cascading impact on retail inflation and impacting household budgets as well as commercial transportation sectors across the country.
