‘As world battled rising fuel costs after West Asia conflict, India stood apart’: Kiren Rijiju
New Delhi, May 15 (IANS) Union Parliamentary Affairs Minister, Kiren Rijiju, on Friday praised India’s handling of fuel prices during global volatility triggered by the West Asia conflict, saying the country’s approach reflects responsible governance focussed on protecting citizens from inflationary shocks.
Sharing his views on X, Rijiju wrote, “As the world battled rising fuel costs after the West Asia conflict, India stood apart. While several countries witnessed petrol & diesel hikes ranging from 20 to nearly 100 per cent, India limited the increase to just +3.2 per cent for petrol & +3.4 per cent for diesel. Even as Brent crude crossed $100/barrel & global markets turned volatile, India’s public sector oil companies absorbed huge losses for weeks to protect citizens from inflation & economic pressure.”
“This is governance with responsibility. This is leadership that puts people first. Under PM Narendra Modi, India continues to balance economic stability with public welfare,” he added.
Rijiju’s remarks come amid a wider political narrative highlighting India’s relatively lower fuel price adjustments compared to several global economies impacted by supply disruptions and crude oil volatility.
Earlier in the day, BJP IT Cell incharge Amit Malviya also shared a detailed analysis on X, noting that India recorded one of the smallest increases in fuel prices globally despite the surge in Brent crude above $100 per barrel following geopolitical tensions in West Asia.
Malviya highlighted that between February and May 2026, countries such as Myanmar, Malaysia, Pakistan, UAE, the United States, Sri Lanka, the United Kingdom, Germany, and Japan saw fuel price increases ranging from single digits to over 100 per cent in some cases, particularly in diesel prices.
According to his analysis, India registered a comparatively modest rise of around 3.2 per cent in petrol and 3.4 per cent in diesel prices, the lowest among major market economies, with only Saudi Arabia reporting no change due to its subsidy-based pricing structure.
He also noted that Indian public sector Oil Marketing Companies, which dominate retail fuel distribution, absorbed significant under-recoveries for nearly 76 days despite rising global crude prices. This helped delay price transmission to consumers and cushion households from immediate inflationary pressure.
Malviya further stated that the recent Rs 3 per litre revision marked the first major adjustment after a long period of price stability, and still remained significantly lower compared to global fuel price surges.
–IANS
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