India absorbs Hormuz oil shock with emergency measures while crude prices nearly double

India kept fuel prices stable despite a massive import hit

The Strait of Hormuz closure earlier this year triggered severe global disruption, cutting off a key route for oil supplies and exposing vulnerabilities in oil-importing nations. India shielded consumers from fuel price spikes by deploying emergency steps, diversifying sourcing, and using subsidies, even as crude prices surged and oil firms reported major losses.