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BUSINESS
$22 billion extra for fuel: India among countries which paid the most in Strait of Hormuz price shock, reveals study
A study revealed that India was among the Top 20 countries incurring the highest gross extra costs for fuel amid the Strait of Hormuz crisis. India reportedly suffered a gross additional cost of USD 22 billion in the six months following the strikes on Iran.
GlobeSignal-AImedium certainty
- Why it matters
- India depends heavily on oil imports; disruption and price volatility in a key shipping route directly raises the cost of fuel supplies the country relies on.
- Most affected
- Indian consumers and businesses — Face higher energy costs passed through fuel and electricity prices.
- Likely next
- Whether India announces policy responses to energy security, such as diversifying supply sources or adjusting fuel taxes.
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