The Ministry of Petroleum and Natural Gas has asked the oil refineries across the country to ramp upLPG productionand divert the additional output for domestic consumption as global geopolitical disruptions tighten fuel supplies amid the ongoing tensions in West Asia. The West Asia crisis broke out on February 28 when the US and Israel launched military strikes on Iran, killing Supreme Leader Ayatollah Ali Khamenei, and Tehran retaliated with attacks of US positions in the region as well as Israel.
In a move aimed at safeguarding household availability, the Centre has prioritised LPG supply for homes, introduced a 25-day gap between bookings to curb hoarding, and restricted non-domestic distribution to essential sectors such as hospitals and educational institutions.
A panel of senior executives from oil marketing companies will review requests for LPG supply from other commercial users, the ministry said in a statement on Monday.
The Union Ministry for Petroleum and Natural Gas on Monday said on X:
"In light of current geopolitical disruptions to fuel supply and constraints on supply of LPG, Ministry has issued orders to oil refineries for higher LPG production and using such extra production for domestic LPG use."
"The ministry has prioritised domestic LPG supply to households and introduced 25 day inter- booking period to avoid hoarding/black marketing. Non domestic supplies from imported LPG is being prioritised to essential non domestic sectors such as Hospitals and Educational institutions."
"For LPG supply to other non-domestic sectors, a committee of three EDs of OMCs have been constituted to review the representations for LPG supply to restaurants/hotels/other industries."
Oil prices surged and stock markets slid on Monday after hard-line Mojtaba Khamenei was chosen to succeed his late father as Iran's supreme leader. The war has choked off major supplies of oil and gas to world markets, led foreigners to flee from business hubs and prompted millions to seek shelter as bombs hit sites including military bases, government buildings, oil and water installations, hotels and at least one school.
On March 7, the prices of domestic LPG and commercial cylinders were hiked by a steep Rs 60 and Rs 114.5, respectively, amid rising energy costs linked to the West Asia conflict.
Non-subsidised LPG, the one that common household users other than the Ujjwala beneficiaries use in their kitchens, will now cost Rs 913 per 14.2-kg cylinder in Delhi as against Rs 853 previously, according to the Indian Oil Corporation (IOC) website. This is the second increase in prices in less than a year.
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