The US-Israel campaign against Iran and Tehran's retaliatory attacks across the Gulf region have upended the world's energy and transport sectors, causing a surge in global oil prices.

Washington temporarily eased economic sanctions against Russia on Thursday to allow Russian oil stranded at sea to be sold to India.

But the Indian government's Press Information Bureau said in a statement that New Delhi was not dependent on "a short-term waiver" for such purchases.

"India has never depended on permission from any country to buy Russian oil," the statement said.

"India is still importing Russian oil even in February 2026, and Russia is still India's largest crude oil supplier."

Washington rolled back a 25 percent duty on Indian exports in February as part of an interim trade deal after what it described as New Delhi's "commitment" to stop buying Russian oil.

But this purported promise finds no mention in the joint statement and has neither been confirmed nor denied by the Indian government which has maintained its oil procurement is guided by national interest.

The note insisted that India is "well stocked" with over 250 million barrels of crude and petroleum products to "handle short term disruptions".

However, India on Saturday raised the price of household liquified petroleum gas (LPG) cylinders used for cooking by seven percent.

Globally, crude soared 8.5 percent on Friday and was up nearly 30 percent for the week after President Donald Trump said only the "unconditional surrender" of Iran would end the Middle East war.

Earlier in the week,India's petroleum ministry ordered refiners to ramp up LPG output, asking for propane and butane streams to be utilised for production

India is the world's second-largest LPG buyer and purchases more than 90 percent of its supply from the Middle East, according to data intelligence firm Kpler.