India's Fuel Price Strategy Amid Global Oil Shock

The BJP staunchly defended its decision to hike fuel prices, emphasizing India's ability to shield its citizens from the global oil shock for over two months with a 'limited and calibrated' increase.

This comes after a Rs 3 per litre rise in petrol and diesel prices, the first in over four years, due to the surging global crude costs adversely affecting oil marketing companies.

The Prime Minister's measures to curb fuel consumption aim to conserve forex reserves amidst the West Asia crisis, while BJP officials boast of India's moderate price hikes compared to steep increases in other countries.

(With inputs from agencies.)