The escalating war between Iran and Israel is sending shockwaves across the globe. Backed by the United States, Israel is conducting large-scale attacks on Iranian targets, while Iran has retaliated with missile strikes of its own. Though the conflict is thousands of kilometers away, its effects are expected to be strongly felt in India due to the country’s heavy reliance on imported petrol and diesel.
Crude oil transport depends on several key maritime routes worldwide, with the Strait of Hormuz being one of the most critical. Situated near Iran, this narrow passage handles around 40% of the world’s crude oil shipments. With the conflict unfolding near this strategic chokepoint, any disruption or blockade could halt the movement of oil entirely, impacting global markets.
Impact on India’s Fuel Supply
India imports nearly 85% of its petrol and diesel, with more than half of this oil passing through the Strait of Hormuz. A supply disruption would trigger a sharp rise in fuel prices. Increased petrol and diesel rates would, in turn, push up transportation costs for trucks and vehicles, leading to higher prices for everyday essentials such as milk, vegetables, and groceries. India would also have to spend more on foreign oil imports, further straining the economy.
Although India already imports oil from countries like Russia and the United States, any stoppage of supplies from Gulf nations could create serious challenges. Experts warn that continued disruption could severely impact India’s economic stability, making it imperative for the conflict to de-escalate as soon as possible.
Advisory for Indian Citizens
In light of the escalating conflict, Indian diplomatic missions in Iran and Israel have issued advisories urging citizens to remain indoors and avoid travel unless absolutely necessary. Airlines, including Air India, have canceled or rerouted flights. Concerns over disrupted crude oil supplies have already driven international oil prices higher, with analysts projecting that a blockade by Iran could push crude prices up to $130 per barrel.