The Iran war has completed 21 days, severely affecting India's economy, fuel prices, and supplies. Crude oil prices have risen from $70-73 to $108-110 per barrel, with the rupee hitting 93.70 against the dollar. Six Indians have been killed in West Asia amid the conflict.
The Iran war, which began on February 28, 2026, has now lasted 21 days. India, importing over 85% of its crude oil and gas from the Middle East, is among the most affected nations. The Strait of Hormuz disruption has halted oil tankers. Crude prices surged from $70-73 to $108-110 per barrel. Premium petrol rose by Rs 2.30 per litre, industrial diesel by Rs 22. Domestic LPG cylinders increased by Rs 60, commercial by Rs 115. Tea prices rose by Rs 5. Zomato's platform fee went from Rs 12.50 to 14.90 per order. The rupee fell from 90.9-91 to 93.70 against the dollar. Sensex dropped 6,000-6,750 points, Nifty by 2,000, with investor losses of 30-34 lakh crore. FIIs withdrew over Rs 52,000 crore. Air travel costs rose, dozens of flights cancelled. Petrochemicals up 68-78%. Pesticide industry warns of 20-25% price hike. Former RBI Governor Raghuram Rajan cautioned that 15-20% energy disruption could push oil to $150-200 per barrel. In West Asia, six Indians killed, including one in Riyadh missile attack. Around 3 lakh Indians returned home; 1 crore reside there. Per External Affairs Minister S Jaishankar, 67,000 evacuated.
