Government Extends LPG Cylinder Booking Period to Combat Hoarding
Synopsis
In a bid to tackle hoarding amid rising tensions from the Iran war, the government has increased the booking period for domestic LPG cylinder refills from 21 days to 25 days. This strategic move aims to stabilize supply amid market panic.
Key Takeaways
Booking period for LPG cylinders extended to prevent hoarding.
Current demand has surged by 15-20% due to panic buying.
Households typically consume 7-8 cylinders per year .
No immediate plans to increase fuel prices .
Total storage capacity for crude oil is 74 days .
New Delhi, March 9 (NationPress) The government has raised the minimum waiting period for booking a domestic LPG cylinder refill from 21 days to 25 days in an effort to curb hoarding. This decision comes amidst indications of panic buying in the market due to uncertainties stemming from the Iran conflict.
Officials confirmed that there is an adequate supply of LPG throughout the country, and this extension in booking time aims to manage inventory more effectively.
This measure was prompted by a 15 to 20 percent surge in demand resulting from panic purchasing, fueled by concerns over potential supply disruptions caused by the escalating situation in the Middle East.
Typically, average households utilize 7-8 cylinders of 14.2 kg annually and generally should not require a refill in less than six weeks, as noted by an official.
A senior official mentioned that there are currently no plans to raise petrol and diesel prices, even with international crude oil prices surpassing $100 per barrel. Oil marketing companies, including Indian Oil, Bharat Petroleum, and Hindustan Petroleum, are expected to absorb the cost pressures for the time being.
The government is actively monitoring global oil markets, but there is no imminent intention to increase retail fuel prices.
In a related update, Parliament was informed on Monday that India possesses a total storage capacity for crude oil and petroleum products sufficient for 74 days. This capacity is crucial for managing potential disruptions resulting from adverse scenarios, including geopolitical tensions.
The government has established Strategic Petroleum Reserves with a total capability of 5.33 million metric tonnes (MMT), designed to mitigate short-term supply shocks like geopolitical conflicts, meeting approximately 9.5 days of crude oil needs. Additionally, oil marketing companies in the nation have storage facilities for crude oil and petroleum products for 64.5 days. Thus, the total national storage capacity for crude oil and petroleum products stands at 74 days, as stated by Minister of State for Petroleum and Natural Gas, Suresh Gopi, in a written response to the Rajya Sabha.
Point of View
It is essential to highlight the government's proactive approach in extending the LPG cylinder booking period in response to panic buying. This measure reflects a commitment to ensuring stable supply and preventing hoarding during uncertain times.
NationPress
30 Jun 2026
Frequently Asked Questions
Why has the LPG booking period been extended?
The booking period has been extended from 21 days to 25 days to prevent hoarding and manage inventory effectively given the panic buying due to the Iran conflict.
How much LPG do average households consume?
On average, households consume 7-8 cylinders of 14.2 kg per year, typically not needing a refill in less than six weeks.
Will fuel prices increase soon?
Currently, there are no plans to raise petrol and diesel prices, despite international crude oil rates crossing $100 per barrel.
What is India's current oil storage capacity?
India currently has a total storage capacity for crude oil and petroleum products sufficient for 74 days.
What are Strategic Petroleum Reserves?
Strategic Petroleum Reserves are facilities established to act as a buffer against short-term supply shocks, with a total capacity of 5.33 million metric tonnes.
