The latest data on Wholesale Price Inflation (WPI) released yesterday, for obvious reasons, underlines India’s over-dependence on imported energy.

India imports about 85 per cent of its crude oil. A large part of that flows through the Strait of Hormuz. When the Strait of Hormuz, just 33 km wide at its narrowest, tightens or closes in part, India’s economy spirals down, as seen from the WPI, which soared to 8.30 per cent in April, more than double that of March’s 3.88 per cent and the highest in 42 months.

Fuel inflation rises sharply

Fuel and power inflation rose from 1.05 per cent to 24.71 per cent in the same month. Crude petroleum inflation soared to 88.06 per........

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