Prime Minister Narendra Modi urged Indian citizens to conserve fuel and postpone gold purchases during a speech in the Hyderabad area on May 10, 2024 [1].
The appeal comes as disruptions to oil supplies through the Strait of Hormuz, triggered by the West Asia crisis, have increased global energy costs and driven inflation within India [4, 5].
Addressing a gathering in the Secunderabad and Hyderabad area, Modi said the need of the hour is to use petroleum products with restraint [1, 2]. He called for a shift in daily habits to mitigate the economic impact of the energy crisis, suggesting that citizens utilize public transport, or car-pool [3].
Modi said workers should consider work-from-home arrangements to save petrol [2]. He also said citizens should avoid foreign travel wherever possible to reduce national fuel consumption [3].
Beyond energy, the Prime Minister said citizens should halt the purchase of gold for one year [2], specifically mentioning wedding gold as part of this request [2]. This measure is intended to help stabilize the economy as the country navigates the external shocks of the West Asia conflict [1].
"Think of work-from-home, saving petrol and no gold purchase for a year," Modi said [2].
He said, "Use car-pool, public transport and avoid foreign travel wherever possible" [3].
“The need of the hour is to use petroleum products with restraint.”
This appeal reflects India's vulnerability to energy price volatility due to its heavy reliance on imported oil. By asking citizens to curtail both fuel consumption and gold imports—a major import expense for India—the government is attempting to manage its current account deficit and curb inflation caused by geopolitical instability in the Middle East.
