On Feb 28, 2026, the US and Israel launched strikes on Iran. Iran's IRGC blockaded the Strait of Hormuz — through which 85–90% of India's LPG imports flow. India has ~10 days of LPG buffer. The blockade is now on Day 11. Brent surged from $71 to a peak of $119.50. The government has ordered refiners to maximise LPG output, raised the rebooking gap to 25 days, and some cities have shut gas crematoriums.