New Delhi, May 15: Following the recent increase in oil and gas prices in India, leaders of the Bharatiya Janata Party (BJP) have come forward to defend the government’s decision. They compared the rise in fuel prices in India to those in other countries, asserting that India has experienced the least burden on its citizens among major economies. They also criticized the Congress party for politicizing the issue.
BJP leader Amit Malviya took to social media platform ‘X’ to highlight the global spike in petrol and diesel prices following the outbreak of conflict in West Asia. He noted that due to the closure of the Strait of Hormuz and disrupted oil supplies, Brent crude prices remained above $100 per barrel for most of April and May. This surge has directly impacted nearly every economy worldwide, yet India stands out as a notable exception.
Malviya pointed out that between February 23 and May 15, many countries saw significant increases in fuel prices. In the United States, petrol prices rose by 44.5%, while diesel prices increased by 48.1%. Pakistan experienced a 54.9% rise in petrol prices and a 44.9% increase in diesel prices. The UK saw petrol prices go up by 19.2% and diesel by 34.2%.
In Germany, petrol prices increased by 13.7% and diesel by 19.8%, while Japan saw petrol prices rise by 9.7% and diesel by 11.2%. Notably, Myanmar experienced the highest increases, with petrol prices soaring by 89.7% and diesel by 112.7%.
In contrast, Malviya stated that India’s fuel price increase was minimal, with petrol prices rising by only 3.2% and diesel by 3.4%. He emphasized that only Saudi Arabia saw no increase due to its direct government subsidy system. He stated that India has managed to keep the burden on its citizens the lowest among major economies, which is no small feat.
He referenced reports indicating that for 76 days, India’s state-owned oil marketing companies, which hold nearly 90% of the retail market share, absorbed the rising costs of international crude oil without passing them onto the public. Reports suggested that there was an under-recovery of approximately ₹1000 crore per day.
Malviya explained that the recent ₹3 per liter increase, announced on May 15, marks the first rise in nearly four years and represents only about a 3.5% increase based on a base price of around ₹95 per liter. He urged comparisons with other countries, noting that in Pakistan, people are paying nearly 55% more than three months ago, while Malaysia and the U.S. have seen increases of 56% and 45%, respectively. In many countries, diesel prices have risen by 50% to 100%, significantly impacting transportation, trade, and logistics.
He further stated that India has successfully shielded its citizens from the global oil crisis for over two months, resulting in only a limited and balanced increase in prices. He stressed that fuel prices affect transportation, food costs, logistics, construction expenses, and household budgets. Controlling fuel prices is essential for managing inflation.
Malviya concluded that the narrative is not merely about a ₹3 increase. The real story is that while petrol and diesel prices in most countries have surged by 10%, 20%, 50%, or even 90%, India has managed to limit its increase to just about 3%. This context is crucial.
BJP spokesperson Pradeep Bhandari also responded sharply to Congress’s allegations regarding fuel prices. He stated on ‘X’, “The Congress party should be ashamed of politicizing everything. They are a party that always seeks political opportunities during global crises and ends up facing backlash.”
Bhandari noted that despite Brent crude prices remaining above $100 per barrel following the Hormuz Strait crisis and the significant global fuel price hikes, India only saw a 3.5% increase after 76 days of stable prices.
He emphasized, “This is a time for economic patriotism. 1.4 billion Indians stand with Prime Minister Narendra Modi, while Congress continues to expose its desperate politics.”
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