The party activists assembled inside the Pratap Park on Residency Road here and tried to march towards the office of the Kashmir's Divisional Commissioner. They were, however, stopped by police.
State secretary M Y Tarigami, who led the protest, said the "criminal policies" of the UPA government has worsened the economic condition of the people.
Terming the petrol price hike as "another cruel blow" on the livelihood of common man, Tarigami said people are suffering due to inflation.
"The highest ever price hike of Rs 7.50 per liter of petrol has shown the insensitive approach of the UPA government towards the concerns of the people," Tarigami said, alleging that central government was safeguarding the interests of oil companies and the corporate sector.
He said the "intermittent hikes" in petrol price and essential commodities are an outcome of "anti-people policies" of the UPA, being implemented through "deregulation and decontrol" of the oil companies.