India imports about 60 percent of its liquefied petroleum gas needs, 90 percent of which comes through the Strait of Hormuz, the Indian government said on Wednesday, while listing measures taken to deal with supply disruptions amid conflict in West Asia.
An order was issued on March 8 for refineries to maximize LPG production, Sujata Sharma, Joint Secretary, Ministry of Petroleum and Natural Gas, said at a press conference on the situation on Wednesday, urging the public not to panic.
For non-domestic LPG, priority is being given to essential sectors like hospitals and educational institutions, Sharma said, adding that the government has absorbed a major portion of the cost when it comes to LPG prices.
“Don’t panic, but save fuel.”
The current price of LPG cylinder in Delhi is $913, and this is after the increase $She added that without government intervention, the rates would have been much higher
“The government has constituted a 3-member committee comprising CEOs of IOC, HPCL and BPCL to hear their grievances. Their real requirements of commercial LPG will be met. This committee will also reprioritise supply as per the requirements,” the official said, urging people not to resort to panic booking of LPG cylinders.
“It is a difficult situation… We urge the public not to store energy and conserve fuel wherever possible,” she said.
The US-Israeli strikes on Iran on February 28 sparked an exchange of drones and missiles that has not yet ended. In response, Iran and its allies closed the Strait of Hormuz, threatening to strike any ship passing through it.
Tehran retaliates by attacking targets in the oil-rich Gulf region, such as Saudi Arabia, Qatar, Kuwait and the United Arab Emirates, effectively closing the Strait of Hormuz.
There is still no sign that ships can resume sailing through the Strait of Hormuz, where a fifth of the world’s oil has been trapped behind a narrow channel along the Iranian coast in the worst disruption to energy supplies since the oil shocks of the 1970s.
