New Rule On LPG Refill Booking To Curb Hoarding Amid Iran War

The waiting period to get an LPG refill for domestic consumption has been increased from 21 days to 25 to curtail hoarding, sources have said as the possibility of an energy crisis looms because of the war in Iran.  

There has been concern about a surge in oil prices after Iran blocked the Strait of Hormuz, even though Iran's Revolutionary Guards have said that the strait will remain closed only to vessels from the US, Israel, Europe and their Western allies. 

There is no possibility of supplies resuming through strait of Hormuz in the near future, sources said. "We have to wait and see how the situation develops," an official added.

But "there is no cause for panic... The impact on Indian consumers will be different than the US consumers," an official said. "We are better placed than many other countries. Look at what's happening in Pakistan," he added.

Pointing out that every petrol pump in the country is operational, sources said the country has enough reserves for now. India also has enough stock of aviation turbine fuel or ATF, sources said. "We are the producer and exporter... we hope that crude prices will be around 100 per cent," the official added..  

The precautionary measure to stop LPG hoarding has been taken as the government directed all refineries to increase the production of LPG. Order has been issued for all the refineries to prioritise LPG for domestic use instead of commercial or industrial use.

Sources also said petrol and diesel prices in the country are unlikely to increase, unless and until crude oil prices breach USD 130 per barrel. "We expect crude oil prices to be around USD 100 per barrel," one of the sources said. "No problem of shortage of petrol and diesel at any pump in country," they said.