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LPG booking gap period extended to 25 days to prevent hoarding: Report
On Monday, oil prices soared to as high as around $120 per barrel as the war in Iran refuses to diffuse.
The booking period gap between two LPG cylinders has been extended from 21 days to 25 days in order to prevent people from hoarding cylinders and their black marketing, news agency ANI reported citing government sources.
This move comes as people reportedly were booking LPG cylinders days in advance. "There were instances that people who were earlier booking LPG cylinders in 55 Days have started booking cylinders in 15 days," the report quoted the sources as saying on Monday.
The sources also added that the refineries have been ordered by the government to increase LPG output and maintain domestic consumption as priority.
"Domestic consumers will always be a priority," the sources said amid India's bid to get more LPG partners on board, with countries such as Algeria, Australia, Canada, Norway approaching India to sell LPG.
‘No petrol, diesel shortage’
Addressing the growing concern among people about potential rise in petrol and diesel prices amid the ongoing war in West Asia, the sources said that it was unlikely unless the crude oil prices breach $130 per barrel mark. They also added that India has enough stock and the prices of petrol and diesel were unlikely to hike.
"We expect crude oil prices to be around USD 100 per barrel," said one of the sources said. “No problem of shortage of petrol and diesel at any pump in country,” they added.
However, on Monday, oil prices soared to as high as around $120 per barrel as the war in Iran refuses to diffuse.
Emphasising that India is in a better position as compared to other countries in the current geopolitical tensions, the sources said that there is not need to panic about Aviation Turbine Fuel (ATF) as India has enough stock of that as well.
"India is a producer and exporter of ATF, no need to panic about ATF," they said.
As the Strait of Hormuz remains blocked due to the ongoing war between Iran and the US and Israel, the sources said that India has accelerated sourcing crude from other routes.
