Oil prices up due to Russia-Ukraine war: Indian minister

Mumbai, March 26 (KMS): Indian Minister Nitin Gadkari has justified the hikes in fuel prices, thrice in the last four days, saying that the oil prices had gone up within the international market owing to the ongoing war between Russia and Ukraine.

Nitin Gadkari speaking at a function here said  “Sometimes, Hindutva is projected in a wrong way.”

“In India, 80 per cent of the oil is imported. Amid the ongoing war between Russia and Ukraine, the oil prices have spiralled up within international markets and we cannot do anything about that,” he said when asked about the high petrol and diesel prices and how the government was planning to the issue.

The minister said that he has been making a pitch for making India self-reliant since 2004, “with which, we need to make our own fuel,” while laying stress on the need for developing indigenous energy generation capabilities.

Petrol and diesel prices were hiked by 80 paise a litre each on Friday, the third increase in four days, as oil firms recoup losses from holding rates during the period prior to the recently-concluded assembly elections.