Hormuz Crisis Adds $22 Billion to India's Fuel Import Bill
What Happened
A CREA study found India incurred about $22 billion in additional fossil fuel import costs in the six months following the Strait of Hormuz energy shock, making it one of the hardest-hit countries globally. The crisis pushed oil, LNG and diesel prices well above pre-conflict market expectations.
Key Takeaways
India ranked among the top countries affected by the price surge, highlighting the economy's vulnerability to global energy disruptions and dependence on imported fuels.