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    MarketForces Africa » Foreign » Indian PM Urges Public to Cut Fuel Consumption, Curb Gold Purchases

    Indian PM Urges Public to Cut Fuel Consumption, Curb Gold Purchases

    Olu AnisereBy Olu AnisereMay 11, 2026 Foreign No Comments1 Min Read
    Indian PM Urges Public to Cut Fuel Consumption, Curb Gold Purchases
    Narendra Modi, Indian PM
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    Indian PM Urges Public to Cut Fuel Consumption, Curb Gold Purchases

    Indian Prime Minister Narendra Modi has appealed to citizens to reduce their consumption of fuels like petrol and diesel, and to shun buying gold over the next year to save foreign exchange.

    Addressing a public rally in India’s southern state of Telangana, Modi also stated that the work-from-home culture should be encouraged, and that people must opt for car-pooling for traveling between their homes and offices.

    India usually imported nearly 85 per cent of its crude oil needs, and was one of the world’s largest importers of gold.

    The prime minister’s appeal comes at a time when global crude oil prices have surged from 70 dollars per barrel to 126 dollars per barrel due to escalating tensions in West Asia and disruptions around the Strait of Hormuz. #Indian PM Urges Public to Cut Fuel Consumption, Curb Gold Purchases#

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    Olu Anisere
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    Olu Anisere is a financial and economic journalist at MarketForces Africa, specialising in African macroeconomic policy, international finance, energy markets, and continental development.He covers major multilateral institutions, including the International Monetary Fund (IMF), World Bank, and the United Nations Economic Commission for Africa (ECA), providing readers with frontline reporting on policies shaping Africa's economic trajectory.Olu has reported extensively on Nigeria's fiscal and monetary policy landscape, including CBN interest rate decisions, Nigeria's bond market, FX inflows, and the country's engagement with global financial institutions.His coverage spans IMF and World Bank Spring and Annual Meetings, African Ministers of Finance conferences, and high-level economic forums where Africa's development agenda is set.His reporting captures perspectives from Africa's most influential economic voices, including Tony Elumelu, senior IMF officials, and CBN leadership, bringing institutional insight and policy depth to MarketForces Africa's readers.Olu also covers Inside Africa — tracking economic, investment, and development stories from across the continent. Olu Anisere is based in Lagos, Nigeria.

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