Kiren Rijiju Defends Fuel Price Hike Amid Global Increases

Union Minister Kiren Rijiju has defended the recent increase in fuel prices in India, emphasizing that the country's hike is significantly lower than those seen in many other nations following the West Asia conflict. He praised the government's efforts to balance economic stability with public welfare, noting that while global fuel prices have surged, India's increases have been limited. Rijiju shared comparative statistics showing dramatic price hikes in countries like Malaysia and the United States, reinforcing India's unique approach to managing fuel costs amidst global challenges. This article explores the implications of these price adjustments and the government's rationale behind them.
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Kiren Rijiju Defends Fuel Price Hike Amid Global Increases gyanhigyan

Government's Stance on Fuel Prices

On Friday, Union Minister Kiren Rijiju defended the central government's decision to raise fuel prices, highlighting that many countries have seen increases in petrol and diesel costs ranging from 20% to nearly 100% following the conflict in West Asia. In contrast, he noted that India's price hike has been relatively modest.


Rijiju praised Prime Minister Narendra Modi for maintaining a balance between economic stability and public welfare, stating that the government has acted responsibly to shield citizens from inflationary pressures.


India's Unique Approach

In a post on X, Rijiju emphasized that while the world grapples with rising fuel prices, India has taken a different approach. He pointed out that petrol prices in India have only increased by 3.2%, and diesel by 3.4%, despite Brent crude oil prices surpassing $100 per barrel and global markets facing instability.


He further explained that India's public sector oil companies absorbed significant losses for weeks to protect citizens from inflation and economic strain, showcasing responsible governance that prioritizes the public's needs.


Comparative Fuel Price Increases

Rijiju also shared statistics comparing fuel price hikes in various countries due to the West Asia conflict. For instance, petrol prices surged by 89.7% and diesel by 112.7% in Malaysia, while the United States saw increases of 44% for petrol and 48.1% for diesel. In China, petrol prices rose by 21.7% and diesel by 23.7%.


Recent Price Adjustments

These comments came after the central government announced a nationwide increase of ₹3 per liter in petrol and diesel prices. In New Delhi, petrol prices rose from ₹94.77 to ₹97.77 per liter, while diesel prices increased from ₹87.67 to ₹90.67 per liter. This adjustment was made in response to the significant rise in global crude oil prices due to escalating tensions in West Asia.