Will petrol and diesel become expensive due to Iran-Israel war: Will the prices of gold and silver increase; Crisis on crude oil supply if Hormuz route is closed

Iran’s Supreme Leader Ayatollah Ali Khamenei has been killed in an attack by Israel and America. Its effect can be seen on India’s oil, stock market and gold and silver prices. This is because there is a possibility of closure of the world’s most important oil route ‘Strait of Hormuz’. Due to this, half of the oil supply to India every month will be in danger. The blocking of the Strait of Hormuz will also affect the common man… According to data from analytics firm Kpler, in January-February 2026, India has imported about 50% of its crude oil requirement through this route. If this route is closed, the supply of crude oil will suddenly fall and prices will increase rapidly. Experts said – Crude oil can go up to $150. Experts believe that if Iran blocks this route even for just a day, then the prices of crude oil in the international market can reach $120 to $150 per barrel. Currently the average price of Brent crude is around $66. According to Muyu Ju, senior crude analyst at Kepler Limited, Iran’s efforts to block the Strait of Hormuz will completely disrupt the supply chain. Oil prices have already hit a six-month high amid fears of military action in February. According to Bloomberg analysis, if this route becomes unsafe, oil tankers will have to move under the protection of Western navies. This will slow down the speed of shipment. 20% of the world’s total petroleum passes through Hormuz. The Strait of Hormuz is about 167 km long waterway, which connects the Persian Gulf to the Arabian Sea. Both its mouths are about 50 km wide, while the narrowest part is about 33 km wide. It has a 3 km wide shipping lane for inbound and outbound maritime traffic. If the Strait of Hormuz is closed, Iran will also suffer losses. Due to the closure of the Strait of Hormuz, Iran’s own economy can also be destroyed because it will not be able to export its own oil. Furthermore, the largest buyer of Iran’s oil is China. If supplies from the Middle East are disrupted, Iran’s relations with China may deteriorate. According to the data, in 2025, Iran has transported the most oil through this route since 2018. Saudi Arabia has ‘East-West Pipeline’ as an alternative to the Strait of Hormuz. This 746 mile long pipeline goes from one end of the country to the other (Red Sea Terminal). Through this, 50 lakh barrels of crude oil can be sent daily. India and other Asian countries are keeping an eye on such alternative routes and safe reserves so that there is no shortage of oil. India is increasing oil imports from other countries. The government is already preparing to deal with this possible crisis. According to sources, India is increasing the purchase of oil from suppliers outside the Gulf countries. Apart from this, if needed, India can also extract oil from its ‘Strategic Petroleum Reserve’ (SPR).



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