Fuel Crisis: Domestic LPG Prices Hiked by ₹60 Amid West Asia Tensions

​NEW DELHI: In a significant blow to consumers, oil marketing companies have hiked the price of domestic cooking gas (LPG) by ₹60 per cylinder and commercial cylinders by ₹115. The sharp increase follows a surge in global fuel prices triggered by escalating conflicts in West Asia and a subsequent supply crunch.​The crisis intensified after Qatar, a major global exporter of Liquefied Natural Gas (LNG), suspended production entirely following Iranian airstrikes. Safety concerns regarding Qatar’s key industrial hubs and the disruption of shipping routes through the Strait of Hormuz have severely impacted international availability.​Strategic Impact on India​India relies heavily on LNG for various critical sectors beyond household cooking, including power generation, industrial manufacturing, fertilizer production, and transportation. Currently, nearly 50% of India’s LNG imports are sourced from Qatar and the UAE.​India’s state-run Petronet LNG has a long-term agreement with QatarEnergy to supply 7.5 million tonnes of LNG annually until 2048. While India also imports from the USA (18.5%), Angola (7.7%), and Nigeria (5.18%), the total shutdown of Qatari production has left a massive void in the energy supply chain.​Global Supply Chain Stalled​The decision by Qatar to halt production came immediately after Iranian attacks targeted industrial zones. As the Strait of Hormuz remains a volatile zone, maritime transport has been hindered, leading to the current price hike. Analysts warn that if the geopolitical standoff continues, further volatility in energy prices remains likely.