FuelPrices – Government Defends Limited Fuel Price Increase Amid Global Oil Surge
FuelPrices – The Centre has defended the latest rise in petrol and diesel prices, stating that India has managed to keep fuel inflation under control despite major disruptions in international oil markets caused by tensions in West Asia.
Union Minister Kiren Rijiju on Friday said the increase in domestic fuel prices remained significantly lower than the hikes recorded in several other countries during the ongoing global energy crisis. According to him, the government took a cautious approach to reduce the burden on consumers while maintaining economic stability.
Government Highlights International Comparison
Speaking about the latest fuel price revision, Rijiju praised the leadership of Prime Minister Narendra Modi and said India adopted a balanced strategy at a time when global crude oil prices experienced sharp volatility.
In a message shared on social media platform X, the minister noted that many nations witnessed steep increases in fuel costs after geopolitical tensions intensified in West Asia. He pointed out that while several countries faced petrol and diesel price hikes ranging from 20 percent to nearly 100 percent, India recorded a comparatively modest rise.
Rijiju stated that petrol prices in India increased by around 3.2 percent, while diesel rates saw a rise of nearly 3.4 percent. He argued that the limited increase reflected the government’s effort to shield citizens from the wider impact of inflation and rising living expenses.
Oil Companies Absorbed Market Pressure
The minister also said public sector oil marketing companies played a major role in preventing a sharper rise in retail fuel prices. According to him, these companies absorbed substantial financial losses for several weeks when international crude oil prices crossed the 100-dollar-per-barrel mark.
He said the government aimed to protect ordinary consumers from sudden economic pressure while ensuring that the country’s financial system remained stable during uncertain global conditions.
Rijiju described the response as an example of “responsible governance,” adding that the administration focused on balancing public welfare with economic management during a difficult phase in global energy markets.
Fuel Price Hikes in Other Countries
Along with his statement, the minister shared comparative figures showing fuel price increases in various countries affected by the global oil market fluctuations.
According to the data cited by him, Malaysia recorded one of the sharpest increases, with petrol prices rising by nearly 89.7 percent and diesel prices by over 112 percent. In the United States, petrol prices reportedly climbed by 44 percent, while diesel became costlier by around 48.1 percent.
The figures also showed that China experienced fuel price increases exceeding 21 percent for petrol and 23 percent for diesel during the same period.
The government used these comparisons to argue that India managed to avoid severe fuel inflation despite being heavily dependent on imported crude oil.
Fresh Fuel Price Revision Announced
The remarks came shortly after the Centre approved a nationwide increase of Rs 3 per litre in both petrol and diesel prices on Friday.
Following the revision, petrol prices in New Delhi increased from Rs 94.77 to Rs 97.77 per litre. Diesel prices in the national capital also rose from Rs 87.67 to Rs 90.67 per litre.
Officials said the revision became necessary due to rising international crude oil costs and increasing pressure on oil supply chains linked to the ongoing tensions in West Asia.
Impact of Global Crude Oil Volatility
Global crude oil markets have remained unstable in recent weeks as geopolitical developments in West Asia raised concerns over supply disruptions. The uncertainty pushed Brent crude prices sharply higher, affecting energy-importing countries across the world.
India, which imports a major portion of its crude oil requirements, remains vulnerable to fluctuations in international oil prices. Analysts believe the government may continue monitoring global trends closely before making further decisions on fuel pricing and energy management policies.