Will rising tensions between US-Israel and Iran threaten crude oil supply through the Strait of Hormuz, putting India's fuel prices, imports, and economic stability at risk?
External Affairs Minister S Jaishankar stated that India has demonstrated resilience in the face of recent global shocks, including the conflict in West Asia, while speaking at the convocation ceremony of IIM Raipur. He emphasised the importance of building national capabilities to de-risk and develop leverage in a changing global order.
A spokesperson said the government is carefully assessing these communications in the context of the ongoing regional crisis.
Prime Minister Narendra Modi and US President Donald Trump discussed the Middle East crisis, with a focus on the Strait of Hormuz.
India significantly increased piped natural gas (PNG) connections in March as the government accelerates the expansion of cleaner fuel networks amid global supply disruptions.
The United States has temporarily lifted sanctions on the sale of Iranian oil already in transit to ease soaring global crude prices, making 140 million barrels available to the market.
Modi said that the West Asia crisis has been going on now for more than three weeks and is having a very adverse impact on the global economy and on people's lives. He said the entire world is urging all parties for the earliest resolution of this crisis.
Egypt, Pakistan, Saudi Arabia and Turkey met in Islamabad in what analysts say is the formal opening of a new diplomatic formation that could reshape the post-war regional order. Their immediate goal is a ceasefire; their larger ambition is to ensure that neither Iran nor Israel emerges from this war in a dominant position. Pakistan's foreign minister then flew directly to Beijing and mooted a Chinese role as guarantor of any eventual agreement. Prem Panicker continues his must read daily blog on the Gulf War.
India's peak power demand is projected to hit 270 GW this summer, surpassing last year's record of 250 GW.
President Trump asserts the US military has decimated Iran's forces and no longer requires assistance from NATO allies to secure the Strait of Hormuz, despite earlier requests for support.
Gold prices are expected to remain volatile next week as investors track geopolitical developments in the Middle East and key macroeconomic data releases that could shape the sentiment in the domestic market, analysts said.
Delhi should keep all its options open in what is essentially a transitional period in the geopolitics of energy rather than remain a gatekeeper serving Trump's 'America First', suggests Ambasssador M K Bhadrakumar.
Prime Minister Narendra Modi spoke with Iranian President Masoud Pezeshkian to discuss the escalating tensions in West Asia, emphasising the safety of Indian nationals and the need for regional stability through dialogue and diplomacy.
The ongoing conflict involving the United States, Israel, and Iran intensified sharply with attacks on critical energy infrastructure across the Gulf, even as US President Donald Trump said he had cautioned Israeli Prime Minister Benjamin Netanyahu against targeting Iran's key South Pars Gas Field.
IndiGo operator InterGlobe Aviation had a mildly encouraging third quarter in financial year 2026 (Q3FY26).
The Indian government addressed opposition concerns regarding the West Asia crisis in an all-party meeting, outlining its strategy for ensuring the security of the Indian diaspora, fulfilling energy needs, and maintaining diplomatic relations with key partners. The government also dismissed Pakistan's reported mediation efforts.
Prime Minister Narendra Modi addressed an NDA rally, assuring that the Indian government is providing assistance to Indian citizens stranded in West Asia due to the ongoing conflict. He criticised the Congress party for allegedly making provocative statements and spreading rumours regarding the crisis.
The Indian government has allocated an additional 40,000 kilolitres of kerosene to states as an alternative fuel to LPG, amid the ongoing crisis in West Asia. The government assures a comfortable crude oil supply situation in the country.
Prime Minister Narendra Modi held a virtual meeting with chief ministers to review preparedness and plans in light of the West Asia conflict, emphasising the importance of national unity and enhanced security measures.
Citizens and residents across the Gulf region are preparing for Eid amidst regional conflict, impacting festivities and daily life.
The big question is whether Trump is any longer in command of the situation. For all practical purposes, the war seems set to cascade as the US is preparing for a potential ground operation in Iran and threatens to destroy 'bridges next, then electric power plants', points out Ambassador M K Bhadrakumar.
When asked about Bessent's announcement allowing certain Russian oil sales to India and whether the US is considering any other moves, including tapping the Strategic Petroleum Reserve (SPR), Trump said, "If there were some, I would do it just to take a little of the pressure off."
The Indian government is unlikely to allow a parliamentary debate on the West Asia crisis, citing prior briefings by the External Affairs Minister. This decision comes amid opposition protests and a pending no-confidence motion against the Speaker.
Former NITI Aayog CEO Amitabh Kant warns that artificial intelligence (AI) could exacerbate global inequalities if not used for the benefit of people, highlighting its immense energy requirements and the need for renewable energy solutions.
Finance Minister Nirmala Sitharaman announces increased domestic LPG production to offset import disruptions caused by Middle East tensions, alongside assurances of fertiliser availability and the clearing of UPA-era oil bonds.
'There is no shortage of fuel whatsoever.' 'India is stock surplus as far as petrol and diesel are concerned.'
Indian benchmark equity indices Sensex and Nifty experienced a significant crash in early trade, triggered by a sharp increase in crude oil prices and escalating tensions in the Middle East.
The question is no longer whether the war will expand. It has. The next few days will tell us whether the war stabilises around Hormuz or whether the Strait itself becomes the trigger for a far larger rupture. What to watch for over the next 48 hours is simple: Any move by the US toward direct naval control of the Strait; any credible Iranian attempt to disrupt or mine shipping lanes and, critically, whether energy infrastructure in the Gulf continues to be targeted.If those lines are crossed in tandem, the war will no longer be containable within the region.
Alliances fight wars effectively only when they share an endgame. If Israel acted without US knowledge, then the military alliance is operating without real coordination at the level of strategic targeting. Neither picture is reassuring in a war that is no longer regional in its consequences. Prem Panicker continues his must read daily blog on the Gulf War.
Trump also called upon China, France, and Japan, among others, to send ships to the Strait of Hormuz.
Argentina has significantly increased its LPG exports to India to help mitigate shortages caused by the ongoing conflict in West Asia. This partnership is becoming increasingly important for India's energy security.
A disruption in the supply of LPG cylinders caused by tensions in the Strait of Hormuz is impacting Indian kitchens, leading to restaurant closures, price hikes and a surge in demand for electric cooktops.
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.
External Affairs Minister S Jaishankar addressed the Rajya Sabha on India's position regarding the escalating conflict in West Asia, emphasising the need for peace, dialogue, and the safety of civilians, while also prioritising India's energy security and trade interests.
India has commissioned its new indigenously-built nuclear-powered ballistic missile submarine INS Aridaman into service, further strengthening the naval component of its nuclear triad. Defence Minister Rajnath Singh also highlighted the Indian Navy's role in securing maritime trade routes.
This weekend, Donald Trump has begun to say the quiet part out loud -- that he wants to take control of Iran's oil, a formulation more in line with his robber-baron style of international relations.
The United States, which entered this war in expectation of a short, sharp win along the Venezuela model, is now preparing for deeper involvement in a conflict it does not fully control, without the allies it typically relies on, against an adversary that is not behaving as expected, in a global environment that is already absorbing economic shock. Prem Panicker continues his must read daily blog on the Gulf War.
Petrol diesel price today March 20, 2026: IOCL & HPCL hike premium petrol (XP95, Speed, Power) by 2/litre and industrial diesel by 22/litre. Regular petrol in Delhi 94.77, diesel 87.67 unchanged. Full city-wise rates inside.
Opposition parties are demanding a full Parliament discussion on the West Asia conflict, criticising the government's silence and calling for a contingency plan to protect India's energy security and citizens.
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.
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