Indian refiners raise LPG rates for first time in a year amid Iran conflict in General Energy News 09/03/2026 India’s state-run refiners hiked the price of domestic cooking gas for the first time in nearly a year on Saturday, as the intensifying conflict in the Middle East chokes energy flows through the Strait of Hormuz. The move highlights the growing economic toll of the regional war on the world’s third-largest liquefied petroleum gas (LPG) consumer. Indian Oil Corporation Ltd (NSE:IOC), the country’s top refiner, raised the price of a 14.2-kilogram LPG cylinder in New Delhi by 7% to 913 rupees ($9.95). Bharat Petroleum Corp. Ltd. (NSE:BPCL) and Hindustan Petroleum Corporation Ltd (NSE:HPCL) also implemented identical increases, marking the first upward revision for households since April 2025. Hormuz crisis threatens 90% of imports The price surge is a direct consequence of the effective closure of the Strait of Hormuz. India is critically dependent on the maritime artery, sourcing more than 90% of its LPG imports from Middle Eastern suppliers. The government has been forced to pass some of the burden to consumers as global fuel costs rise and shipments are squeezed. Approximately 222 million households, roughly two-thirds of India’s LPG-using population, will be hit by the increase. The remaining consumers continue to receive government subsidies. The government has used emergency powers to mandate that refiners prioritize household users over petrochemical plants as the “supply-chain risk” remains high. Political sensitivity and inflationary headwinds LPG pricing is a flashpoint in Indian politics. Because women constitute nearly half of the electorate, the government typically avoids raising cooking gas costs. However, the magnitude of the current energy shock appears to have left policymakers with few alternatives. Commercial rates were also adjusted, with the price of cylinders used by hotels and restaurants rising 6.5% to 1,883 rupees. The move follows a smaller 1.6% increase on March 1, reflecting the more frequent monthly revisions for the commercial sector. Investors are waiting to see if the government will increase its subsidy bill to shield the most vulnerable or allow further market-linked hikes. Source: Investing.com 2026-03-09 hellenicshippingnews... window.___gcfg = {lang: 'en-US'}; (function(w, d, s) { function go(){ var js, fjs = d.getElementsByTagName(s)[0], load = function(url, id) { if (d.getElementById(id)) {return;} js = d.createElement(s); js.src = url; js.id = id; fjs.parentNode.insertBefore(js, fjs); }; load('//connect.facebook.net/en/all.js#xfbml=1', 'fbjssdk'); load('https://apis.google.com/js/plusone.js', 'gplus1js'); load('//platform.twitter.com/widgets.js', 'tweetjs'); } if (w.addEventListener) { w.addEventListener("load", go, false); } else if (w.attachEvent) { w.attachEvent("onload",go); } }(window, document, 'script')); tweet Share