BPCL has defended the diesel price hike decision saying the rise was long overdue.
New Delhi: Even as the diesel price hike has sparked a nationwide protest, BPCL has defended the decision saying the rise was long overdue. BPCL CMD RK Singh has also said that the diesel price should have been increased by Rs 17, but has been increased only by Rs 5.
"In my opinion this hike was long overdue. A little dose of increase is a welcome sign. There will be an effect, but government has balanced out things. Instead of increasing it by Rs 17, it has only increased it by Rs 5," Singh said.
"India is import dependent, we are importing crude, if the prices will not be increased we will end up with no money to buy crude," he added.
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