Fuel Price Rise of Rs 3/Litre Deemed Responsible: CAT

In a strong show of support, the All India Traders Confederation (CAT) on Friday hailed the government's Rs 3 per litre petrol and diesel price hike as a thoughtful and accountable action. The move is designed to ensure steady fuel supplies in the face of worldwide volatility and to preserve macroeconomic balance. Reacting to the price revision, CAT's Secretary General Praveen Khandelwal, who is also a BJP parliamentarian, contextualized it within the prevailing geopolitical strife and chaos in global crude markets. Wars and conflicts across regions have crippled oil supply lines, spiking costs and fostering uncertainty in energy sectors. Khandelwal noted India's heavy reliance on imported crude, which directly links global price swings to local pump rates. This calibrated Rs 3 increase appears as a deliberate strategy to sustain fuel flow and economic steadiness amid instability. Prolonged price controls, he cautioned, might exert undue pressure on state coffers and fuel retailers, risking wider economic fallout. The administration's track record includes maintaining equitable pricing alongside timely relief for consumers. "Energy security demands this modest escalation right now," Khandelwal remarked. CAT recognizes the ripple effects on freight and supply chain expenses but stresses the need for collective backing of nationally vital choices in tough international times. He wrapped up by affirming that such forward-looking tweaks bolster India's strength to navigate global headwinds effectively, underlining the primacy of fiscal robustness and reliable energy.