Fuel price hike due to Iran-US conflict: UP Minister Om Prakash Rajbhar

Amid fresh fuel price hikes, UP Minister Om Prakash Rajbhar blamed global supply disruptions from the Iran-US conflict. He said when consumption exceeds supply, a rate rise is natural, while also taking a swipe at the Opposition's criticism.

UP Minister Blames Geopolitical Tensions

Amid a fresh rise in petrol and diesel prices across the country, Uttar Pradesh Minister Om Prakash Rajbhar on Monday attributed the increase to global supply disruptions caused by the ongoing conflict involving Iran and the United States, saying the fuel shortage was a natural outcome of geopolitical tensions in the region. "Following the conflict between Iran and the United States, the country has experienced a fuel shortage. Since consumption exceeds supply, a rise in rates is a natural consequence. When nations--or several nations--engage in conflict, neighbouring countries are invariably affected. This is precisely the reason why these circumstances have arisen," Rajbhar told ANI.

Taking a swipe at the Opposition over criticism of the price rise, he said, "The opposition continues to argue that these events should not have unfolded in this manner. The Congress party, in particular, cites the Manmohan Singh administration, highlighting how they kept everything under control, noting that he was a capable economist. But who is calling him incompetent? No one is suggesting that he was incompetent."

Fourth Price Hike in Two Weeks

His remarks come as petrol and diesel prices were hiked once again on Monday, marking the fourth increase in less than two weeks amid sustained pressure on oil marketing companies due to elevated global crude oil prices, currency fluctuations and concerns over supply disruptions linked to tensions in West Asia. A major concern remains the Strait of Hormuz -- a crucial global oil transit route -- where any disruption or perceived threat tends to sharply influence international crude prices.

Fuel Prices in Major Cities

Following the latest revision, petrol prices in Delhi crossed the Rs 100-mark, rising by Rs 2.61 to Rs 102.12 per litre, while diesel prices increased by Rs 2.71 to Rs 95.20 per litre. In Patna, petrol is being sold at Rs 113.35 per litre, while diesel is priced at Rs 99.36 per litre. In Kolkata, petrol prices rose by Rs 2.87 to Rs 113.51 per litre, while diesel increased by Rs 2.80 to Rs 99.82 per litre. In Mumbai, petrol climbed by Rs 2.72 to Rs 111.21 per litre, while diesel rose by Rs 2.81 to Rs 97.83 per litre. In Chennai, petrol is now priced at Rs 107.77 per litre after an increase of Rs 2.46, while diesel rose by Rs 2.57 to Rs 99.55 per litre.

The latest revision follows three successive hikes in recent days. On May 15, petrol and diesel prices were increased by Rs 3 per litre each. This was followed by another hike on May 19 of 90 paise per litre. On May 23, petrol prices were raised by 87 paise per litre, while diesel went up by 91 paise per litre. Meanwhile, Compressed Natural Gas (CNG) prices in Delhi were also increased by Rs 1 per kg on Saturday -- the third hike in 10 days -- taking the retail price to Rs 81.09 per kg.

Opposition Slams Government Over Price Rise

Amid the repeated fuel price hikes, Opposition leaders have stepped up their attack on the BJP-led government, accusing it of failing to shield the common man from rising inflation. Several opposition parties have alleged that the increase in petrol and diesel prices is putting additional pressure on household budgets and transport operators. They have questioned the Centre over the continued rise in fuel rates and demanded immediate relief for consumers, saying the hikes would have a cascading effect on prices of essential commodities and public transportation across the country. (ANI)

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