Hours after the Centre announced a Rs 3 per litre increase inpetrol and diesel prices, the BJP moved to strongly defend the decision, arguing that India had managed the global fuel crisis better than most economies. In a detailed post on X, BJP IT cell chief Amit Malviya gave the "context behind the numbers".

He wrote: "The surge in global fuel prices since the outbreak of the West Asia conflict offers a revealing comparison of how different countries have managed economic shocks. The closure of the Strait of Hormuz, the world’s most critical oil chokepoint, and the prolonged disruption of shipments sent Brent crude soaring above $100 per barrel through much of April and early May. Across the world, consumers have felt the impact directly at fuel stations."

But "India stands out as a striking exception", he added.

Drawing comparisons with several countries, Malviya claimed petrol prices had risen by nearly 90 per cent in Myanmar, over 56 per cent in Malaysia, around 55 per cent in Pakistan and over 44 per cent in the United States between February 23 and May 15 this year. Diesel prices, he said, had also jumped sharply worldwide, touching over 112 per cent in Myanmar and 86 per cent in the UAE.

By contrast, India saw petrol prices rise by just 3.2 per cent and diesel by 3.4 per cent, he said, calling it the "smallest material increase among all major economies."

Malviya argued that India's public sector oil marketing companies had absorbed major losses for over two months instead of immediately passing on rising crude prices to consumers. According to him, daily under-recoveries had reached nearly Rs 1,000 crore.

"The Rs 3 per litre revision announced on May 15 is the first price revision in almost four years," he said, adding that the increase amounted to only around 3.5 per cent on a base price of nearly Rs 95 per litre.

Calling the global comparison "stark", Malviya said India had managed to shield consumers from global volatility while also containing inflationary pressures on transport, logistics and household budgets.

"The story here is not merely about a Rs 3 increase. The story is that while much of the world adjusted through increases of 10%, 20%, 50%, and in some cases nearly 90%, India limited the impact on its citizens to just over 3%.

"That is the context behind the numbers," he wrote.

Source: India Latest News, Breaking News Today, Top News Headlines | Times Now