PM Modi calls for WFH, travel curbs amid oil price hike

Tuesday, 12 May 2026 05:19 - - {{hitsCtrl.values.hits}}

Indian Prime Minister Narendra Modi has urged citizens to curb fuel use, revive working from home, pause gold purchases, and reduce overseas travel to deal with a surge in global energy prices amid the continued crisis in the Middle East due to the Iran war.

Addressing a rally in Hyderabad, Modi noted that the austerity measures – a reminder of the COVID-19 pandemic – would reduce India’s fuel consumption and help protect the country’s foreign exchange reserves.

“Patriotism is not only about the willingness to sacrifice one’s life on the border. In these times, it is about living responsibly and fulfilling our duties to the nation in our daily lives,” the Prime Minister said.

He said reducing gold imports and foreign travel would help conserve foreign currency reserves as higher oil prices increase pressure on India’s import bill. “In the current situation, we must place great emphasis on saving foreign exchange,” he said.

New Delhi is the latest among a growing number of Asian economies calling for lower energy consumption amid skyrocketing fuel prices due to Iran tensions. India imports nearly 85% of its oil, and there has been a multi-billion-dollar uptick in its crude bill since the war started and Iran closed traffic through the Strait of Hormuz, a narrow Gulf chokepoint, through which a fifth of global oil supply passes in peacetime.

India’s 50% of crude imports, 60% of liquefied natural gas (LNG), and almost all of liquefied petroleum gas (LPG) supplies pass through Hormuz. Brent crude futures climbed $ 4.04 or 3.99% to $ 105.33 a barrel yesterday, while US West Texas Intermediate was at $ 99.85 a barrel, up $ 4.43, or 4.64%.