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Hormuz Strait Crisis And Impact On India: The impact of tensions in West Asia and the Iran-America conflict is now being seen on the economy of the entire world. Let us tell you that due to the closure of the sea waterway Hormuz Strait, the supply of oil and gas is being affected, due to which there is a continuous rise in the prices of crude oil. In view of this, Narendra Modi has also appealed to the countrymen to use petrol and diesel very wisely.

Giving a message to the people, the Prime Minister said that amidst the ongoing war in West Asia, saving fuel is becoming the biggest need of the hour. He also said that if India reduces its dependence on imported petroleum products, the country’s foreign exchange expenditure will be saved and the war will not affect the Indian economy.

Why is India’s tension increasing?

It is being seen that the tensions to Iran and the ongoing conflict in West Asia are continuously affecting the prices of crude oil in the international market. At the same time, the weakness of the rupee has increased India’s worries even more. Let us tell you that buying expensive oil has a direct impact on the country’s import bill. This increases the pressure on foreign exchange reserves and also creates the danger of rising inflation. This is why the government is now appealing to people to save fuel so that this burden can be reduced.

India consumes crores of liters of oil daily

According to the data given by the government, about 55 lakh barrels i.e. 87.45 crore liters of oil is used daily in India. It is seen that in terms of oil consumption, India has become the third largest consumer country in the world after the United States of America and China. Let us tell you that India imports about 85 to 88% of its crude oil requirement from other countries and in 2026, the country had spent about 134.7 billion dollars on the import of crude oil. Which clearly means that the impact of the global crisis will be most severe on India.

Transport sector is the biggest consumer

According to Petroleum Planning and Analysis Cell (PPAC), diesel is used the most in India. Whose share is around 37 to 39%. Whereas diesel is most demanded in trucks, buses, agriculture and heavy vehicles. If we look at petrol, its share is around 14 to 16% which is mainly used in road vehicles like cars and bikes.

Government is now emphasizing on EV and Flex Fuel

In view of the rising prices in the country, the government is asking people to rapidly increase options like electric vehicles and flex fuel to reduce dependence on oil in the future. At the same time, it is also believed that if the focus is not on fuel saving and alternative energy in time, then common people may face a huge burden of inflation in the coming days.