New Delhi, May 16 -- Delhi-based Confederation of All India Traders (CAIT) has termed the recent increase in petrol and diesel prices a balanced decision aimed at protecting India's energy security and economic stability amid global uncertainty.

Fuel Hike Seen In Context Of Global Crude Volatility

Reacting to the fuel price hike, CAIT Secretary General Praveen Khandelwal said the move may place some additional burden on consumers but should be viewed in the context of ongoing global conflicts and geopolitical tensions that have disrupted crude oil markets and triggered price volatility.

He noted that India imports a significant share of its crude oil requirements, making domestic fuel prices vulnerable to fluctuations in international ...