Fuel Price Hikes Part of Global Crisis, Says Economist Surjit Bhalla

Economist Surjit Bhalla said rising petrol and diesel prices in India are part of a larger global energy crisis triggered by geopolitical tensions and war in West Asia. Speaking to NDTV, Bhalla noted that India is not alone in facing the challenge and suggested fuel prices may still need to rise further, potentially by 20-25%, though likely less than other countries due to already high taxation. He stressed that the government has limited short-term options and must balance economic realities with consumer concerns.