New Delhi, March 20 -- The ongoing conflict in Iran has hit its third week, triggering a shortage of cooking gas across India. The central government has continued to reassure the public that domestic reserves of crude and refined fuel are sufficient to handle current demand.

India occupies a vulnerable position as the world's third-largest oil consumer. Its dependence on West Asian neighbours like Qatar and Saudi Arabia is significant: over 40% of its crude imports and 90% of of its LPG imports are sourced from conflict-hit Middle East.

The closure of the Strait of Hormuz has forced India to pivot. To fill the gap, the country has increased its intake from West Africa and Russia. However, these "alternative" routes come with a financia...