The government said the curbs were intended to ensure fair distribution of petrol and diesel, prevent hoarding and diversion of supplies, and maintain uninterrupted availability of fuel at reasonable prices. 

India ends emergency restrictions on retail sale of petrol and diesel to commercial buyers from July 1

Iran’s near-closure of the route has since thrown global fuel markets into turmoil, forcing countries to draw down reserves and rethink supply chains. The knock-on effects are now being felt from Indian kitchens to American petrol stations.

What do Indian kitchens have to do with California gas prices? India’s LPG crisis may hold the answer

Disruptions in the Strait of Hormuz, one of the world’s most critical oil transit chokepoints, have sent global energy markets into shock. The narrow maritime corridor carries a significant share of the world’s crude oil and LNG shipments, making any instability there a major concern for global supply chains.


Strait of Hormuz Disruption Sends Energy Markets into Shock 

The global energy crisis has led the German government to impose a new gas tax on households. The increased rates will be effective from October 1st and last till April 2024. Under the new levy, an average family of four is expected to pay almost $500 more per year and businesses will also be subjected to these new charges.

WION Climate Tracker | Germany imposes winter gas tax despite concerns

In face of the global energy shortage that the world is experiencing due to the ongoing Russia-Ukraine conflict, the International Energy Agency (IEA) has announced that its member countries will be releasing a whopping 120 million barrels of crude oil reserves over a period of six months.

Amid global energy crisis, IEA to release 120 million barrels of crude, India supports decision

The unsustainable population growth and the resulting consumption habits have caused a global energy crisis. Transitioning to renewable energy is the only solution. Watch 'Mission Sustainability: Population VS Planet' where we explore the problems and solutions to 'Population and the Energy Crisis'.

Mission Sustainability: Population vs Planet | Global Energy Crisis | Mobius Foundation