Brief by Shorts91 Newsdesk / 01:35am on 11 May 2026,Monday India
Amid a global oil shock caused by the Middle East conflict and disruptions around the Strait of Hormuz, Prime Minister Narendra Modi urged Indians to conserve fuel, revive work-from-home practices, avoid foreign travel and pause gold purchases for weddings for one year to save foreign exchange. He also appealed for reduced edible oil use and lower dependence on imported chemical fertilisers through natural farming. Crude prices have surged from nearly USD 70 to USD 126 per barrel, raising fears of fuel price hikes in India before May 15. Oil companies reportedly face monthly losses of Rs 30,000 crore while India increases LPG production and diversifies crude imports amid mounting economic pressure.
