The pain is especially acute in import-dependent economies. In India, oil companies are now selling petrol at a ₹14-per-litre loss and diesel at ₹18, according to The Hindu. Beyond fuel, elevated energy prices from the West Asia crisis are expected to saddle companies with an under-recovery of ₹80,000 crore (roughly $9.5 billion) on cooking gas LPG in the current fiscal year alone.
India’s domestic natural gas production fell 4.9% in March 2026, forcing the country to ramp up imports — which surged 39% — to maintain overall supply. It’s a delicate balancing act: increased imports offset domestic shortfalls, but at significantly higher costs that will ultimately be borne by consumers and industries alike.
