Amid the ongoing crisis over a possible conflict between Iran and the US, huge crowds are being seen at petrol pumps in many parts of the country. There is a panic for LPG cylinders, and the market of rumors is so hot that people have started filling the tanks of their vehicles completely and are also buying the cylinders at very high prices. Black marketing and hoarding are increasing rapidly. False news is being spread that the country is about to run out of oil and gas; But, the truth is completely different. India has ample reserves of oil and gas. While major countries are grappling with energy crises, India has no shortage of gas and oil stocks—even 27 days into the conflict. The Central Government itself has issued a detailed clarification on this matter.
India has sufficient reserves of petrol and diesel
Refuting false news circulating on social media, the Central Government has clarified that petrol pumps across India are getting adequate supply of petrol and diesel. At present there is no shortage of gas or oil anywhere in the country. India is the world’s fourth largest oil refiner and fifth largest exporter of petroleum products, supplying to more than 150 countries. Apart from exports, full supplies are being maintained at over 100,000 retail petrol outlets across the country. Oil companies are now ensuring three days’ advance stock at petrol pumps—up from the earlier stock level of one day.
How many days of oil stock does India have left?
Despite tensions in the Strait of Hormuz, India continues to import crude oil from more than 41 countries. Oil companies have already secured and received enough crude oil for the next 60 days. The government has rejected all the claims being made on social media that the country has only six days of oil stock left. The central government has officially confirmed that the country currently has total oil reserves which is enough for 74 days. Even after 27 days of conflict, India has successfully managed to maintain its oil and gas reserves. While countries around the world are increasing fuel prices—and crude oil rates continue to rise—petrol and diesel prices in India remain stable. Read: Rising prices of LPG and fuel, turmoil in gold market… Where do we stand after 25 days of war? The crisis is not limited to gas and oil only!
Government has issued an important update on LPG gas
The government has clearly said that the country’s refineries are working at their full capacity. Moreover, domestic LPG supply remains normal, and there is no “dry-out” situation anywhere. The government is fully proactive in dealing with possible supply disruptions due to the current geopolitical situation. The supply of commercial LPG has been increased by 50%, with priority being given to restaurants, dhabas, hotels, community kitchens and migrant laborers (through 5 kg cylinders). Domestic LPG delivery remains normal across the country. Presenting official figures, the government said production at domestic refineries has increased by 40%.
50 lakh cylinders are being delivered daily across India
India is currently importing LPG from many countries, including America, Russia and Australia. Oil marketing companies are delivering more than 50 lakh cylinders every day. The demand for cylinders had earlier increased to 89 lakh units due to panic buying; Now this figure has become normal and has come back to 50 lakhs. Domestic PNG (Piped Natural Gas) and CNG (Compressed Natural Gas) for the transport sector are getting 100% supply as per their requirement, while the industrial sector is getting 80% supply. Instructions have been issued to provide PNG connections in schools, hostels and kitchens within five days. The government has also warned that strict action will be taken against those spreading rumours.