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    COVER STORY                                                              APRIL 10, 2026    |  The Indian Eye                    4

                                                         ENERGY CRISIS

                                        WHOSE

                FAULT IS IT?

                   As global shocks disrupt supplies, India’s energy crisis has triggered a sharp

                       political contest over management, accountability and narrative control

            OUR BUREAU
            Hyderabad/New Delhi/Mumbai
               ndia’s  unfolding  energy  crisis—
               sparked  by  escalating  tensions
            Iin  West  Asia  and  disruptions  in
            global  supply  chains—has  rapidly
            evolved  into  a  political  flashpoint,
            with  the  government  emphasizing
            stability  and  control  while  the  op-
            position seeks to corner it on prices,
            policy and preparedness. At the heart
            of this contest lies a dual reality: a
            government attempting to manage a
            volatile external shock, and an oppo-
            sition framing the crisis as a failure of
            governance.
                The crisis itself is rooted in geo-
            political  developments.  The  block-
            ade of the Strait of Hormuz—a route
            that  handles  nearly  one-fifth  of  the
            world’s  crude  oil  supply—has  sent
            shockwaves  across  energy  markets.
            For India, which sources around 12–      Congress workers stage a protest over the reports of nationwide shortage of LPG cylinders, in Jaipur on Friday. (ANI Photo)
            15 per cent of its oil imports through
            this  corridor,  the  implications  are   been able to safely cross the Strait of   tic  stability  in  supply.  According  to   pendence  on  LPG  and  ease  supply
            immediate  and  severe.  Brent  crude   Hormuz,” signaling active efforts to   Sujata Sharma, Joint Secretary in the   pressures.” Policy measures such as
            prices  have  surged  sharply  from   secure supply routes.         Ministry  of  Petroleum  and  Natural   providing an additional 10 per cent
            around $65 per barrel to above $100,   Jaiswal reiterated India’s broad-  Gas, “our retail outlets are operating   commercial  LPG  if  states  promote
            dramatically  increasing  the  cost  of   er stance, saying the country “stands   normally,” and “crude supplies have   PNG indicate attempts to structural-
            fuel production.                  for free and open commercial ship-  been secured for the next sixty days   ly ease pressure on fuel systems.
                Against this backdrop, the gov-  ping  and  for  maritime  security  in   and  inventories  are  sufficient.”  She   However, beneath this narrative
            ernment  has  sought  to  project  con-  keeping  with  international  law,”   further noted that “refineries in the   of stability lies a mounting financial
            trol and continuity. External Affairs   while calling for “ensuring safe and   country are operating at maximum ca-  strain. Oil marketing companies are
            Ministry   spokesperson   Randhir   free  navigation  through  the  Strait   pacity,” with “no shortage of sulfur.”  incurring  significant  losses  as  retail
            Jaiswal  underscored  India’s  diplo-  of Hormuz as a matter of priority.”   On the natural gas front, the as-  fuel prices remain unchanged despite
            matic  engagement,  stating  that  the   These  statements  reflect  a  strategy   surance is equally firm. “The supply   rising global costs. Sharma revealed
            country is “in touch with Iran and   centered on diplomatic engagement   of natural gas to domestic consum-  that  there  is  an  “under-recovery  of
            other countries there to see how   and international coordination to   ers is 100 per cent assured,” Sharma   about Rs 24 per liter on petrol and Rs
            best  we  can  get  unimpeded  transit   stabilize energy flows.    said, adding that the government is   104 per liter on diesel,” with both the
            and  safe  transit  for  our  ships.”  He   Parallel to diplomatic efforts, the   pushing expansion of Piped Natural   government  and  OMCs  absorbing
            added that “six Indian ships… have   government has emphasized domes-  Gas  infrastructure  to  “reduce  de-  Continued on next page... >>

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