New Delhi, May 15: The Confederation of All India Traders (CAIT) has described the recent increase of ₹3 per liter in petrol and diesel prices as a “thoughtful and responsible decision.” This move aims to ensure uninterrupted fuel supply and maintain economic stability amid global uncertainties.
In response to the fuel price hike, CAIT Secretary General and BJP MP Praveen Khandelwal emphasized that this decision must be viewed in the context of ongoing geopolitical tensions and disruptions in global crude oil markets.
Khandelwal noted that wars and geopolitical conflicts in various parts of the world have severely impacted global crude oil supply chains, leading to rising prices and uncertainty in energy markets.
He stated, “India imports a significant portion of its crude oil needs; therefore, fluctuations in international crude oil prices inevitably affect the domestic fuel economy.”
Khandelwal further explained that the ₹3 per liter increase appears to be a planned step aimed at maintaining uninterrupted fuel availability and safeguarding economic stability during a period of global instability.
He added, “Artificially controlling fuel prices for an extended period could place excessive pressure on public finances and oil marketing companies, adversely affecting the overall economy.”
Khandelwal also acknowledged that the government has consistently worked to protect consumers by maintaining balanced fuel prices and providing relief measures whenever possible.
He remarked, “In the current scenario, a limited increase is essential to safeguard the country’s energy security.”
Additionally, CAIT recognized that rising fuel prices might impact transportation and logistics costs. However, they stressed that citizens and businesses should support decisions made in the broader national interest amid challenging global conditions.
Khandelwal concluded, “India’s economic strength and energy stability are crucial. Temporary adjustments made with a long-term perspective will enhance the country’s ability to confidently face global challenges.”
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