The recent surge in global oil prices following the U.S.-Iran conflict has cast a spotlight on India’s energy vulnerabilities, particularly in the transportation sector. Since the outbreak of hostilities on February, crude oil and refined fuel prices have spiked sharply. The Organization of the Petroleum Exporting Countries (OPEC) basket price rose by approximately 67% triggering higher costs for petrol, diesel, and LPG across India.
Analysts say the crisis underscores the urgent need for alternative energy adoption, with electric vehicles (EVs) emerging as a key strategy to reduce dependence on imported fossil fuels. While China has made rapid strides in EV deployment, India’s transition is still at a nascent stage, leaving its economy more exposed to global oil market shocks.
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