Govt assures adequate LPG supplies amid panic buying
Amid panic buying in parts of India, the Centre on Wednesday urged consumers not to rush-book LPG cylinders despite concerns over supply disruptions linked to the ongoing US-Iran conflict. Officials stressed that the normal delivery cycle for households remains around two-and-a-half days.
Sujata Sharma, Joint Secretary in the Ministry of Petroleum and Natural Gas, assured that adequate LPG stocks are available and asked people to avoid unnecessary bookings. She said refinery adjustments have increased domestic LPG output by about 25 per cent and that two LNG cargoes are en route to strengthen supplies further. “Feedback suggests some panic booking is driven by misinformation. There is no need for customers to rush-book cylinders. LPG cylinders for households will be available as per their usual delivery cycle,” she said.
Highlighting India’s crude oil sourcing strategy, Sharma said, crude oil is being sourced from non-Strait of Hormuz routes, adding that India’s crude supply has been significantly diversified in the wake of the ongoing conflict and the blockade with 75 per cent of its crude now sourced from routes outside the vital shipping chokepoint. She added that India currently imports crude oil from 40 countries.
“India’s crude supply remains secure. Our daily consumption is about 55 lakh barrels...Through diversified procurement, the volumes we have secured today exceed what would normally have arrived through the Strait of Hormuz during this period,” she said.
“As I speak to you today, about two LNG cargoes are headed for India, and they will arrive within a few days, which will further strengthen the crude supply position in the country,” Sharma further said. Refineries are operating at maximum capacity and LPG prioritisation focuses on households over commercial use, she added. The ministry has asked states to prevent hoarding and black marketing.
Meanwhile, the Ministry of Shipping reported 28 Indian vessels in the Persian Gulf, with 677 sailors aboard, closely monitored for safety and medical support.
