NEW DELHI: The Communist Party of India (CPI) on Tuesday criticised the Centre over the continued rise in fuel prices, stating that the crisis is a result of the Narendra Modi government’s economic mismanagement, depreciation of the rupee, and increasing import vulnerability.
The party described the price hikes as “anti-people” and called for a nationwide protest against what it termed the government's “failed” policies.
“The government is now hiding behind the West Asian conflict as a convenient excuse. But the crisis is not solely because of the war. It is also a consequence of the Modi government’s economic mismanagement, the steadily falling value of the rupee, growing import vulnerability, and the surrender of India’s independent foreign policy before the US-Israel nexus,” the Left party said.
It added that the continuous hike in petrol and diesel prices for the fourth time in just 10 days exposes what it described as the thoroughly anti-people and corporate-driven character of the Modi government.
Fuel prices have risen by nearly Rs eight per litre recently. The CPI said these increases are not isolated economic decisions, adding that they trigger a cascading effect across the economy by raising transportation costs, food prices, agricultural expenses, public transport fares and the overall cost of living.
“At a time when workers, farmers, salaried sections and the poor are already struggling with deepening economic distress, the government has chosen to further burden the people with relentless inflation….The CPI strongly condemn these anti people fuel price hikes and call upon people across the country to organise protests and democratic resistance against the total failure of the Modi government and its policies that place corporate interests above the lives of the people,” read a statement issued by the party.
The CPI further said the government was attempting to justify the price increases by citing losses faced by oil companies, while claiming the facts suggest otherwise.
“During the January to March 2026 quarter alone, Indian Oil Corporation (IOC) reported profits of Rs 14,458 crore, HPCL around Rs 4,902 crore, and BPCL Rs 3,191 crore. The annual profits of these companies have also risen sharply. If oil companies are earning thousands of crores in profits, why are the benefits not being passed on to consumers?,” the party questioned.
The CPI also alleged that since 2014, even during periods when global crude oil prices were low, the BJP government consistently increased excise duties and used petroleum taxation as a means to generate revenue.
“The present price hikes are therefore not merely the result of external developments, but part of a long standing policy framework that prioritises corporate profit and fiscal extraction over public welfare,” it added.
