India, April 7 -- The recent surge in LPG prices and supply anxieties across parts of India has once again underscored persistent import dependence in the country's energy architecture. Triggered by escalating geopolitical tensions involving Iran, global crude oil prices have witnessed sharp fluctuations, crossing uncomfortable thresholds and transmitting shocks across fuel markets. For a country that imports nearly 85 per cent of its crude oil and a significant share of its LPG requirements, such volatility is not an aberration; it is a recurring structural risk.

The consequences are already visible. Rising LPG prices are straining household budgets, while supply disruptions in certain regions have raised concerns about accessibility an...