“We have to use imported petro products only as needed,” the PM said.
Amid the West Asia conflict and heightened tensions in the Strait of Hormuz, Prime Minister Narendra Modi on Sunday urged citizens to use petrol, gas and diesel with “great restraint”, calling it the “need of the hour”.
Speaking in Hyderabad during the inauguration and foundation laying ceremony of development projects worth around Rs 9,400 crore, PM Modi said that reducing dependence on imported petroleum products would help save foreign exchange and cushion the impact of the US-Iran conflict in the Middle East.
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“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 needed. This will not only save foreign exchange but reduce the adverse impact of war,” he said.
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The Prime Minister stressed the importance of energy security, saying his government is making significant investments in the sector.
“What is the importance of energy security… every person in the world today is feeling it. That is why our Central Government is making unprecedented investments in India’s energy security,” he said.
PM Modi further added that India has made major progress in renewable energy over the past few years. “India has reached the top countries in the world in terms of solar power,” the Prime Minister said, adding that the inauguration of the new Indian Oil terminal in Malkapur is a key step to meet Telangana’s growing energy needs.
His remarks came amid the global energy crisis triggered by the ongoing conflict between the United States and Iran and the disruption in the Strait of Hormuz, a key energy supply route in the Persian Gulf.
Following US and Israeli attacks on February 28, Iran blocked the Strait of Hormuz, attacking ships trying to sail through the chokepoint waterway which roughly handles around 20 per cent of the global fuel supply.
This triggered an unprecedented energy crisis across the world, including India, as supply of gas and crude from the Gulf countries stopped, with only a handful of vessels managing to cross the Strait.
After the announcement of a ceasefire between the US and Iran, there were high hopes that an early resolution of the conflict may be near but diplomatic negotiations have so far failed to yield any positive outcome.
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