Fuel Price Hike Due To Global Issues, Not Modi: G Kishan Reddy

(MENAFN- AsiaNet News)

Union Minister G Kishan Reddy on Friday said the recent fuel price hike was a result of global economic conditions and not an issue created internally by the Indian government.

Speaking to ANI on the fuel price hike, Reddy said, "For the last six months, different countries have been facing economic crises, especially due to petroleum, fertiliser, and gold supply issues. All countries are suffering, not only India, because this is not a domestic issue, an issue created by PM Modi, or an internal matter."

He said Prime Minister Modi had been working with more than 40 countries to ensure an uninterrupted fuel supply for India.

"PM Modi has been working with more than 40 countries to ensure an undisturbed fuel supply for all of us. But the situation today has changed because global conditions are not getting better," the Union Minister said.

Appealing for public support, Reddy said everyone should understand that the issue was driven by international circumstances and support the decisions taken by the Prime Minister.

New Delhi Fuel Prices After Hike

Following the Rs 3 hike, petrol prices in New Delhi rose from Rs 94.77 to Rs 97.77 per litre, while diesel prices increased from Rs 87.67 to Rs 90.67 per litre.

Global Factors Influencing Prices

The fuel price revision comes amid growing concerns over global energy supplies due to tensions in West Asia and disruptions in the Strait of Hormuz, a key maritime trade route for crude oil transportation.

Brent crude oil prices have remained above USD 100 per barrel following the ongoing conflict involving the US, Israel and Iran since February this year.

The widening regional conflict has impacted fuel markets as several West Asian countries are major energy suppliers. (ANI)

(Except for the headline, this story has not been edited by Asianet Newsable English staff and is published from a syndicated feed.)

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