US President Donald Trump's call to Prime Minister Narendra Modi signals a concerted effort to reset strained Washington-New Delhi ties, with a focus on 'big-ticket' energy and trade deals, including increased Indian imports of US LNG and LPG, and potential cooperation on small modular reactors.
The Indian government has reassured citizens that the country has sufficient reserves of petrol, diesel, and LPG, and that refineries are operating at high capacity despite global supply chain disruptions. They have urged citizens to avoid panic buying and hoarding.
Tea planters in Darjeeling have raised that a shortage of commercial LPG, triggered by the ongoing conflict in West Asia, could hit tea processing during the first flush, the delicate early-season harvest that commands the highest premiums and often sets the tone for the year.
India on Friday launched a highly coordinated, priority operation to safely guide 13 Indian-flagged commercial vessels out of the volatile Strait of Hormuz, the ministry of ports, shipping, and waterways announced on Friday.
Senior TMC leader Abhishek Banerjee criticised the Modi government's economic policies, citing rising prices and hardships caused by demonetisation and lockdown measures during an election rally in West Bengal.
'We have lost 70-80 per cent of our business from foreign guests.'
Maharashtra minister Mangal Prabhat Lodha defends his request for LPG cylinders for Jain temples, claiming criticism is part of a larger anti-Hindu narrative.
The government has introduced a mandatory 25-day gap between LPG cylinder bookings due to supply concerns arising from global disruptions and tensions in the Strait of Hormuz. This measure aims to prevent hoarding and prioritise essential non-domestic sectors, while domestic LPG production is being increased to mitigate shortages.
Aviation Turbine Fuel (ATF) prices have more than doubled to a record high, impacting airlines and consumers, while commercial LPG rates also see a significant increase.
Indian-flagged vessels are navigating the Strait of Hormuz safely despite ongoing tensions in the region, ensuring the continued flow of vital energy supplies to India.
India Ratings and Research predicts the Reserve Bank of India (RBI) will maintain the repo rate at 5.25 per cent throughout FY27, despite potential inflationary pressures from higher fuel prices, with inflation expected to remain within the central bank's tolerance band.
In a first, Indian oil public sector undertakings (PSUs) finalised a one-year contract to import around 2.2 million tonnes (mt) of liquefied petroleum gas (LPG) from the US. The LPG import deal comes at a time when negotiations for an India-US bilateral trade agreement (BTA) are gathering steam. Earlier in the month, US President Donald Trump had said Washington and New Delhi were "pretty close" to reaching a fair trade deal.
Foreign secretary Vikram Misri on Friday shared key details on agreements between India and the UAE, stating that the UAE will store up to 30 million barrels of crude oil in India's strategic petroleum reserve following Prime Minister Narendra Modi's visit.
Hundreds of Indian seafarers are stranded on vessels carrying crude oil, LPG, and LNG in the Persian Gulf due to the ongoing conflict in the Middle East, causing disruptions to India's energy supplies.
Moody's Ratings has reduced India's GDP growth forecast for 2026 to 6 per cent, citing subdued private consumption, capital formation, and industrial activity due to higher energy costs and global uncertainties.
If TVK MLAs and ministers are perceived as clean, or demonstrably cleaner than their predecessors, the credibility dividend will be enormous. The voter will feel rewarded, points out Ramesh Menon.
The US Department of Justice has permanently dropped all criminal charges against Indian tycoon Gautam Adani and his nephew Sagar, concluding a high-profile securities and wire fraud case in New York after prosecutors determined they could not sustain the allegations.
The Indian government has increased import duties on gold and silver from 6 per cent to 15 per cent to curb inbound shipments of precious metals amid a rising import bill due to the West Asia crisis.
'Once the currency goes out of the hand, then possibly your major challenge is that it will not come back.'
Prime Minister Narendra Modi has urged for restraint in the use of petro products due to the West Asia crisis, emphasising the need to save foreign exchange and reduce the impact of war. He also highlighted India's progress in solar power and ethanol blending, while assuring support to Telangana's development.
Jindal Steel has successfully deployed syngas in its galvanising and colour coating line furnaces to combat shortages of natural gas, LPG, and propane. This innovative approach allows the company to sustain operations and promotes energy self-reliance.
Senior Trinamool Congress leader Abhishek Banerjee has accused the BJP-led central government of planning to increase fuel prices after the West Bengal assembly elections. He challenged the BJP to promise no price hikes for LPG, petrol, and diesel over the next five years.
'There is no shortage of fuel whatsoever.' 'India is stock surplus as far as petrol and diesel are concerned.'
Responding to concerns raised by Leader of the Opposition Rahul Gandhi in the Lok Sabha, Petroleum Minister Hardeep Puri said it is the foremost priority of the government that the kitchens of over 33 crore families, especially the poor and the underprivileged, do not face any shortage of gas.
We cannot simply have a 60-65 per cent import dependency in LPG, the bulk of which comes from just one volatile region -- West Asia, points out R Jagannathan.
The Strait of Hormuz crisis is impacting lifestyles worldwide, from reduced gold purchases in India to energy conservation in Europe and Japan, as governments urge citizens to adapt to the global energy shock.
India emerged reasonably well from 2025. But now, the oil shock and war-related supply disruptions have again driven funds out of India and significantly weakened the rupee, points out Ajay Chhibber.
If the conflict continues for a prolonged period, State-run oil companies may have to review retail fuel prices accordingly.
Two Indian ships carrying liquified petroleum gas (LPG) from the Gulf countries crossed the Strait of Hormuz early on Saturday morning, raising the number of Indian vessels safely passing through the war-hit, narrow shipping lane to three.
Prime Minister Narendra Modi has begun a six-day tour of the UAE, the Netherlands, Sweden, Norway and Italy to strengthen bilateral relations amid geopolitical challenges. The trip will focus on energy security, trade, and technological cooperation.
Despite international crude oil rates crossing USD 100 per barrel due to Middle East tensions, the Indian government plans to maintain current petrol and diesel prices, ensuring uninterrupted fuel supply across the country.
Trinamool Congress leader Abhishek Banerjee accuses the central government of withholding funds from West Bengal to punish voters for supporting the TMC, while highlighting state-led initiatives to support the population.
India's retail inflation, measured by the Consumer Price Index (CPI), increased to 3.48 per cent in April, up from 3.40 per cent in March, primarily due to a surge in prices of gold and silver jewellery, as well as certain kitchen staples like tomatoes and cauliflower.
India's net oil import bill could rise by $56 billion to $64 billion annually assuming global crude averages $110 to $115 per barrel in FY27.
The cost of the war is being counted not in the corridors of power in Washington or Tehran, but in Firozabad's darkened furnace rooms, Howrah's idle casting sheds, and a barbershop in Kochi where the wait is suddenly, inexplicably, an hour long, notes Prem Panicker in his must read blog on the Iran War.
The Indian government has refuted claims of fuel shortages, asserting that the country possesses approximately 60 days of fuel stock cover and that all petrol pumps are adequately stocked and operating normally.
The closure of the Strait of Hormuz has disrupted some 20 per cent of the global flows but even if it opens, damages to production facilities in the region will take time to repair, points out Sunita Narain.
The petroleum ministry on Friday reaffirmed the government's commitment to maintaining stable petrol and diesel prices, despite India's high dependence on imports.
An Indian-flagged crude tanker safely departed from the UAE's Fujairah after loading oil, despite an attack on the oil terminal. The Indian government is closely monitoring the situation in West Asia to ensure stable fuel supplies and maritime safety.
In view of the disruptive situations, the Central government has also announced a financial relief package of Rs 497 crores aimed at helping exporters affected by disruptions in West Asia.
