‘Cut fuel use, gold buys’: PM Modi urges people as Iran war bites

PRime government minister Narendra Modi on dominicus urged Indians to follow asceticism measures ranging from slip fuel consumption and postponing foreign travel to reducing edible oil use and avoiding gold purchases, as the government grapples with the economic fallout of the ongoing global energy crisis and surging crude prices.Speaking in Hyderabad, where he inaugurated multiple projects, Modi framed the appeal as a national duty at a time when India imports more than 88% of the crude oil it processes and supply chains remain under strain amid the conflict in West Asia.“In this time of global crisis, we have to make a resolution keeping duty paramount and fulfil it with complete dedication,” Modi said. “A big resolution is to use petrol and diesel sparingly. We must curb our use of petrol and diesel. In cities with Metro lines, we should decide to travel by Metro only. If we must use a car, then we should try to carpool,” he said.Also read: War damage compensation, Hormuz sovereignty: Inside Iran's response to US proposal that Trump called ‘unacceptable’The prime minister also urged people to maximise the use of electric vehicles, shift freight movement towards railways and revive work-from-home arrangements that became common during the Covid-19 pandemic.“During the Corona period, we developed many systems of work from home, online meetings, and video conferences, and we even became accustomed to them. Today, the demands of the times are such that if we restart these systems, it will be in the national interest,” he said.Modi repeatedly stressed the need to conserve foreign exchange as India faces mounting import costs.“We must also place a strong emphasis on saving foreign exchange, as petrol and diesel have become so expensive globally,” he said. “It is our responsibility to save the foreign currency spent on purchasing petrol and diesel.” Crude oil prices have surged sharply since the outbreak of the war in West Asia on February 28, with average import prices rising from around $70 a barrel to nearly $120. The pressure has also weighed on the rupee, which weakened from around ₹91 against the dollar before the conflict to nearly ₹95.Also read: Hantavirus outbreak: 2 Indians onboard MV Hondius 'asymptomatic and healthy', says Indian embassy in SpainTo be sure, the rupee’s depreciation has mirrored pressure on several major Asian currencies during the broader global crisis.High oil prices have also sharply increased India’s import bill. India imported crude oil worth $121.8 billion in 2025-26, and officials expect the burden to rise further if the conflict continues and shipping through the Strait of Hormuz remains disrupted.A government official, speaking on condition of anonymity, said that while the Centre had so far shielded consumers from the full impact of the global energy crisis by holding petrol, diesel and cooking gas prices largely steady, the situation remained fragile.“There is no certainty on when the Strait of Hormuz returns to normal commercial operation, and no settled view on where post-conflict prices stabilise even after the conflict itself ends. Most credible projections see elevated prices persisting for at least four months after a permanent ceasefire is achieved, on account of the time required for shipping, insurance, and inventory regimes to normalize,” he said.The official added that fuel retailers may not be able to hold prices at current levels for much longer.Modi also urged people to avoid non-essential foreign travel, overseas weddings and vacations for at least a year to reduce pressure on foreign exchange reserves.“The growing culture of weddings abroad, travelling abroad, and vacationing abroad is becoming prevalent among the middle class. We must decide that during this time of crisis, we should postpone travelling abroad for at least a year,” he said.Modi also appealed to citizens to avoid gold purchases for a year, arguing that gold imports place additional pressure on foreign exchange reserves. “Gold purchases are another area where foreign exchange is used extensively... In the national interest, we must resolve not to purchase gold for a year, no matter how many functions we have scheduled at home,” he said.The prime minister additionally called for lower edible oil consumption and reduced dependence on imported chemical fertilisers. “The same is true for edible oil. We have to spend foreign currency on its import. If every household reduces the use of edible oil, it is a huge contribution to patriotism,” Modi said.“We should reduce our consumption of chemical fertilisers by half and move towards natural farming. This way, we can save foreign currency and our farms and Mother Earth.”At an inter-ministerial briefing on Friday, petroleum ministry joint secretary Sujata Sharma said the combined monthly under-recovery on petrol, diesel and cooking gas stood at around ₹30,000 crore.State-run fuel retailers have kept petrol and diesel prices in Delhi at ₹94.77 and ₹87.67 per litre respectively for the past two years, despite mounting global pressure on fuel prices.The government had on March 27 reduced excise duty on petrol and diesel by ₹10 per litre each, while also imposing levies on exports of diesel and aviation turbine fuel to prevent domestic supplies from being diverted overseas.An energy sector expert, who requested anonymity, said Modi’s remarks should be seen as preparation for possible fuel price increases and broader austerity measures.“PM’s Sunday speech should be taken in all seriousness and fuel conservation must be implemented by individuals, corporations and state governments immediately,” the expert said. “People must be prepared to share the partial burden of this crisis in terms of a price hike, which is imminent.”Union home minister Amit Shah backed Modi’s appeal in a post on X, describing it as a “visionary” road map towards making India “self-reliant and energy-secure”.“His call for moderation in the use of petrol-diesel, promoting work from home, and abandoning chemical fertilisers to adopt natural farming is a clear roadmap for making India a self-reliant and energy-secure nation,” Shah wrote.Union petroleum minister Hardeep Singh Puri also urged citizens to conserve fuel and said India’s energy sector was absorbing the impact of the global crisis to shield consumers. “India is among very few countries which have not raised energy prices and has maintained steady supplies to the citizens even as we see crises unfold in many parts of the world,” Puri posted on X.He said oil marketing companies were purchasing crude oil, gas and LPG at elevated rates while continuing to sell fuels domestically at lower prices, leading to “massive mounting losses”.According to Puri, oil marketing companies are facing losses of up to ₹1,000 crore a day, while estimated under-recoveries during the current quarter could rise to ₹2 lakh crore.“Let us turn PM Modi ji’s empathetic appeal into a Jan Andolan to save and conserve energy,” he said.The Opposition, however, accused the government of failing to prepare adequately for the crisis.Congress general secretary KC Venugopal said Modi was “still clueless about ensuring India’s energy security” even three months into the Iran-US war.“It is shameless, reckless and downright immoral that the PM is pushing the common citizen into inconvenience, instead of building contingencies to ensure our economy is unaffected by this global crisis,” Venugopal said in a post on X.“The PM and his government must make all necessary arrangements to ensure we have ample fuel reserves and no citizen faces any hardship as a result of their lack of planning,” he added.