Piyush Goyal: PM Modi Ensured Minimal Fuel Price Rise Amid Global Crisis

Union Minister Piyush Goyal said India is maintaining a careful balance amid the disruption caused by the blockade at the Strait of Hormuz, which has affected global trade, freight costs and the movement of essential commodities.

Speaking on the prevailing global situation, Goyal said several goods required by India are now being transported from distant locations due to the disruption, resulting in higher freight costs.

He said the situation remains highly challenging for countries around the world, but India has managed to maintain stability while responding to the evolving crisis.

Goyal also highlighted the impact of rising energy prices in several countries. Referring to his visits abroad, he said he had observed the prices of petrol, diesel and gas in other countries and compared them with the situation in India.

According to Goyal, the government under Prime Minister Narendra Modi has taken measures to ensure that the increase in domestic fuel prices remains minimal despite global pressures.

He further said that various ministries and government departments are working together to minimise inconvenience to citizens and ensure adequate availability of essential commodities.

The minister's remarks come amid heightened concerns over global supply chains, freight costs and energy security linked to disruptions around the Strait of Hormuz.

Government Focuses on Supply and Price Stability

Goyal emphasised that the government's priority is to protect consumers from the impact of international disruptions while maintaining sufficient supplies.

He said coordinated efforts by different ministries are aimed at ensuring that people face minimal inconvenience during the challenging global environment.