This situation arises as Brent crude oil prices have reached a staggering $108 per barrel. Currently, oil marketing companies (OMCs) are losing approximately ₹24 per litre on petrol and ₹30 per litre on diesel, creating a significant financial strain. This loss has raised concerns about the sustainability of these companies amidst rising operational costs.

That context matters because OMCs have struggled to maintain stable fuel prices despite fluctuations in global markets. Since April 2022, petrol and diesel prices in India have remained relatively unchanged, even as international crude oil prices surged. The government previously reduced excise duty by ₹10 per litre, which resulted in a considerable revenue loss of ₹1.7 lakh crore annually.

The implications extend beyond just petrol and diesel prices. LPG demand has also taken a hit; consumption decreased by 16.16% in April 2026, dropping to 2.2 million tonnes. The average price of a 19-kg LPG cylinder in Delhi has now reached ₹3,071.50, further exacerbating inflationary pressures on households.

As one senior official remarked, “We cannot keep prices unchanged when there are supply issues. At some point, we have to make adjustments according to market conditions.” This sentiment reflects the reality that OMCs cannot continue absorbing losses indefinitely without passing some costs onto consumers.

The government believes that a price adjustment is unavoidable due to the financial strain on OMCs. As such, officials are expected to announce a price increase for petrol and diesel soon after the election results are declared.

This looming hike raises questions about how consumers will respond to increased fuel costs amid already rising inflation rates. With the market dynamics shifting rapidly, many are left wondering how this will impact daily life in India.

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Puri’s remarks come as India has historically relied on imports for a significant portion of its energy needs. Previously, the country imported approximately 60% of its Liquefied Petroleum Gas (LPG) requirements from Gulf countries. However, recent government initiatives have aimed to bolster domestic production and reduce dependency on foreign imports.

According to Puri, the domestic supply of LPG is now fully protected, and the standard time for booking to delivery for domestic LPG cylinders has been streamlined to just 2.5 days. This improvement reflects the government’s commitment to ensuring that households have reliable access to energy resources.

Moreover, Puri highlighted that LPG production has increased by 28% through refinery directives, which is a significant step towards achieving energy independence. The government’s focus on enhancing domestic production capabilities is seen as a proactive measure to mitigate the impacts of international conflicts on energy supplies.

What observers say

In a related development, the Delhi High Court recently granted interim relief to Himayani Puri, who filed a Rs. 10 crore defamation suit against allegations linking her to Jeffrey Epstein. The court ordered social media platforms to take down allegedly defamatory content against her, emphasizing the need for responsible reporting and the protection of individual reputations.

Justice Mini Pushkarna, presiding over the case, remarked, “Considering that the matter regarding injunction at global level is subject matter of Division Bench, orders in that regard may not be passed.” This statement underscores the complexities involved in legal proceedings that intersect with international matters.

In a separate incident, a bridge collapse in Roop Nagar resulted in the tragic death of a female beggar. Parvesh Sahib Singh, commenting on the incident, stated, “This is a very unfortunate incident. Our focus is on ensuring that such incidents are prevented in the future.” The formation of a three-member committee to investigate the bridge collapse reflects the government’s commitment to public safety and infrastructure integrity.

As India navigates these multifaceted challenges, the government’s approach to energy security and legal matters will be closely monitored by observers and citizens alike. The next steps in both the energy sector and the ongoing legal proceedings involving Himayani Puri remain to be seen, as the country continues to address pressing issues on multiple fronts.

The post Hardeep Puri: Securing India’s Energy Supplies Amidst Global Conflicts appeared first on yesdaidanews.com.

As of March 10, 2026, the ongoing Iran-Israel war has significantly impacted global gas prices and supply chains, particularly in India. The conflict has effectively closed the Strait of Hormuz, a critical passage for oil shipments, leading to sharp fluctuations in crude oil prices.

Initially, Brent crude prices fell 17 percent to below $80 a barrel before rebounding to near $90. This volatility reflects market reactions to the perceived risks associated with the ongoing conflict. Chad Norville noted, “What we saw this week was the market briefly treating that risk as real and repricing supply disruption in earnest.” Meanwhile, US petroleum prices have risen about 17 percent since the start of the war.

The situation has raised alarms in India regarding a potential liquefied petroleum gas (LPG) crisis. With 90 percent of its LPG consumption met through imports, India faces a significant supply gap of 2 million tonnes. The Central government has invoked the Essential Commodities Act to ensure equitable distribution of LPG amid fears that restaurants in major cities like Chennai, Mumbai, and Bengaluru may shut down due to shortages.

In response to the crisis, the Indian government is securing 1 million tonnes of LPG from the United States. However, the National Restaurant Association of India has expressed concerns, stating, “As per articles [in the media], the government has clarified that there is no ban on the supply of commercial LPG cylinders for the restaurant industry… but the ground situation is different…”

Government Measures

Indian officials, including Chief Minister M.K. Stalin, have emphasized the need for the Union government to ensure that the LPG cylinder shortage does not adversely affect public services or commercial establishments. The government is also preparing for the arrival of 20 very large gas carriers expected to deliver LPG to Indian ports.

Despite these measures, uncertainties remain regarding the effectiveness of government interventions and the overall duration of the Iran-Israel war. Details remain unconfirmed.

The ongoing conflict continues to shape global energy markets, with significant implications for gas prices and supply stability. Stakeholders are closely monitoring developments as the situation evolves.

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