No, petrol and diesel prices are not increasing by ₹15 to ₹25 per litre. This specific figure is an exaggerated rumor. While fuel prices did experience an upward revision starting May 15, the actual cumulative increase was significantly lower than the viral claims suggest.
Here are the factual realities of India's recent fuel price hikes:
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The Actual Increase: Since May 15, public sector oil marketing companies (OMCs) have hiked petrol and diesel prices four times. The total cumulative increase has been roughly ₹7.50 per litre, not ₹15 to ₹25.
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The Cause of the Hike: The price revisions were driven by a severe surge in global crude oil prices—up nearly 40% to 50%—caused by the recent West Asia conflict and resulting supply chain disruptions in the Strait of Hormuz.
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Future Projections: Rather than further massive spikes, Union Oil Minister Hardeep Singh Puri recently stated that India has secured enough stock and expects global oil prices to stabilize and fall in the coming months.
Here is why the "₹15 to ₹25" rumor likely spread:
1. Misinterpreting Economic Data
When the initial price hikes began in mid-May, economists analyzed the inflationary impact. Experts from institutions like DBS Bank noted that the fuel price hikes would likely add "15 to 25 basis points" to India's headline inflation. It is highly probable that social media forwards conflated "15-25 basis points" with a direct "₹15-₹25" price hike.
2. Fear of Global Crude Surges
With global crude oil approaching $100 per barrel due to international tensions, panic spread that state-run OMCs—which were absorbing massive daily losses—would pass the entire global surge onto the consumer all at once.
3. The End of the Price Freeze
Fuel prices in India had remained largely frozen for over two years. Consumers historically expect steep, accumulated price hikes immediately following long freeze periods or election cycles, making exaggerated figures feel believable.
Instead of a sudden ₹25 shock, the government opted for a calibrated approach to pass on costs gradually while mitigating sudden inflation. You can expect fuel costs to remain elevated at their current levels until global supply routes fully stabilize.
For a closer look at the actual numbers and the global events driving these revisions, you can watch this Mint Report on the May Fuel Price Hikes. This broadcast breaks down exactly how the West Asia crisis forced state oil companies to adjust prices after a long freeze.
Source: Indian Express