Fuel Price Hike Looms As Iran War Disrupts Supply; Experts Call For Urban Policy Reset
India may face a fuel price hike due to the US-Israel war on Iran, which could lead to a reset of urban policies and a shift towards alternative transportation methods. The government is being urged to reform urban policies and promote the use of electric vehicles, buses, and bicycles to reduce dependence on fossil fuels.
India is bracing for a potential fuel price hike due to the US-Israel war on Iran. The country's fuel demand has been rising, with a forecasted growth of 6-8% in transport fuel demand by 2026. To reduce dependence on fossil fuels, experts are calling for a reset of urban policies, promoting electric vehicles, buses, and bicycles. The government has launched initiatives such as the PM e-bus Seva scheme, but more needs to be done to scale up electric mobility. State governments can support this shift by implementing civic taxes and urban charges to fund electric buses and e-three-wheelers. By making car use costlier and promoting alternative transportation, India can reduce its reliance on fossil fuels and mitigate the impact of future oil shocks.
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