The video of Modi talking about reducing petrol and diesel prices at a rally is interspersed with images of Bollywood actor Salman Khan bursting into peals of laughter.
"The poor and the middle class bear the brunt of rising fuel prices. In this video, our PM is quite obviously talking about some other country," Gandhi tweeted, using "#PeTrolled" as the hashtag.
Petrol prices continued to surge, touching a nearly five-year high of Rs 73.95 per litre in Delhi.
The previous high in the capital was Rs 74.10 a litre in September 2013.
In Mumbai, Kolkata and Chennai too, prices climbed to new multi-year highs at Rs 81.80, Rs 76.66 and Rs 76.72 a litre, the Indian Oil website said.
The previous high in these cities was Rs 82.07 (Mumbai, March 2014), Rs 77.88 (Kolkata, May 2012) and Rs 77.53 (Chennai, May 2012).
Diesel prices also touched new record levels.
On Tuesday, diesel prices in Delhi, Mumbai, Kolkata and Chennai were Rs 64.82, Rs 69.02, Rs 67.51 and Rs 68.38 a litre respectively.