June 2026

The Iran war has led to a blockade of the Strait of Hormuz, the main transit route for Gulf energy supplies. While India has partly offset crude supply disruptions by sourcing oil from countries, including Russia, gas supplies have been curtailed to industrial users and LPG availability to commercial establishments, such as hotels and restaurants,…

Oil prices are soaring, pushing the government to consider raising fuel costs. State-run companies are facing significant losses due to the sharp increase in crude oil. While elections are over, a decision on price hikes remains pending. Consumers have seen stable prices so far, but this situation may not last.