Amid West Asia crisis, PM Modi urges Indians to use petrol, diesel with ‘great restraint’

With the Hormuz blockade choking off crucial global fuel supplies, Prime Minister Narendra Modi while addressing an event in Hyderabad on Sunday has asked citizens to use petrol, diesel and gas with “great restraint”. Calling it the “need of the hour” amid the ongoing West Asia crisis, the PM said that reduced dependence on imported petro products would help save foreign exchange and lessen the impact of war on India’s economy. PM Modi said the current global energy crisis highlighted the need for careful use of imported petro products.

He pointed to India’s push for solar power, ethanol blending, LPG expansion and CNG infrastructure as key measures to strengthen energy security.

Modi stated that these steps had helped India deal with this major energy crisis.

“But, today, the need of the hour is also to use petrol, gas, diesel and such things with great restraint. We have to use imported petro products only as per need. This will not only save foreign exchange but reduce the adverse impact of war,” he said.

Modi also inaugurated and laid the foundation for development projects worth around Rs 9,400 crore in Telangana, including highway, railway and textile infrastructure initiatives.

It has been earlier reported by various news agencies that government-owned oil marketing companies (OMCs) such as Indian Oil, Bharat Petroleum and Hindustan Petroleum were racking up costs of about Rs 30,000 crore a month on petrol, diesel and cooking gas sales. This was caused by piling under-recoveries, the difference between the retail price and the import price.

These companies have been facing severe stress as the retail price hasn’t changed despite the rising global prices, according to Sujata Sharma, Joint Secretary, Petroleum Ministry.