Following fresh military strikes between the US and Iran near the Strait of Hormuz, energy economist Kirit S. Parikh warned that a prolonged conflict could sharply raise India's oil and gas import bills, disrupt fuel supplies, and endanger Indian seafarers along the critical trade route. The intensifying conflict has raised concerns about potential disruptions to liquefied petroleum gas (LPG) supplies.
Experts said that although crude oil supplies remain relatively stable for now, a prolonged conflict could reduce LPG availability, leading to higher prices and impacting industrial operations.
