India Directs State Oil Firms to Expand LPG Stocks Amid Supply Concerns

In light of the ongoing supply issues resulting from the West Asia conflict, the Indian government has mandated state-controlled fuel retailers to bolster their liquefied petroleum gas (LPG) reserves to cover a month of demand. This strategic directive comes as a precaution against disruptions impacting the country's energy supply chain.

Sujata Sharma, a senior official in the petroleum ministry, confirmed that state-run entities like Indian Oil Corp (IOC), Bharat Petroleum Corp Ltd (BPCL), and Hindustan Petroleum Corp Ltd (HPCL) have been tasked with planning for increased storage capacities. Sharma noted that, while crude and natural gas supplies remain persistent, the LPG supply is crucial for domestic and commercial uses.

The conflict has affected a significant portion of India's imports, highlighting the necessity for substantial reserves. The government reassured citizens that the nation maintains adequate stocks of essential fuels, with refineries functioning optimally and LPG production reaching unprecedented levels.

The policy shift also urges local authorities to prevent hoarding and black marketing, encouraging consumers to remain calm and purchase fuel through legitimate sources. Meanwhile, retail fuel prices experience fluctuations, influenced by agricultural demand and competitive pricing between public and private providers.

(With inputs from agencies.)