On the morning of May 1, 2026, a notice went up at gas agencies across the valley. The price of a 19-kg commercial LPG cylinder had been revised overnight by ₹993. 

This was the single largest single-day revision in India’s recorded LPG pricing history. 

The cylinder that hotels, dhabas, and bakeries depend on now costs ₹3,071.50, up from ₹1,691.50 on January 1: an 82 per cent increase in four months. 

The reasons for this extraordinary surge lie far from Srinagar, in the waters of the Strait of Hormuz.

The US-Israel military campaign against Iran, which intensified in early 2026, disrupted global energy markets and supply chains. The Strait of Hormuz, a vital route for nearly 20 per cent of the world’s traded oil, suddenly became a high-risk zone. 

Shipping costs rose sharply as war-risk insurance premiums soared, while many insurers stopped providing coverage for vessels operating in the Gulf.

The vulnerability was no secret. 

India imports around 60 per cent of its LPG requirements, most of it traditionally routed through the Strait of Hormuz from Gulf producers. Official estimates suggest domestic reserves can meet barely two weeks of national demand. Heavy import dependence, a geographically concentrated supply chain, and........

© Kashmir Observer