India shifts LPG imports during West Asia conflict as US share climbs from 8% in February to nearly one-third by April 2026

India sharply diversified its liquefied petroleum gas (LPG) import sources during the West Asia conflict, with the United States’ share rising from 8% in February to nearly one-third by April 2026, while Iran returned to the supply mix. The shift coincided with a 46% rise in the Saudi Aramco Contract Price between February and June, alongside higher retail cylinder prices in Delhi and a steep increase in commercial-cylinder costs. Oil marketing companies absorbed much of the price shock as procurement costs rose faster than retail prices, pushing cumulative losses borne during March–May to nearly ₹22,000 crore, according to Crisil.