Indian Oil Corporation Reports 70% Recovery in Commercial LPG Supply Amid Global Disruptions
Synopsis
Key Takeaways
New Delhi, April 6 (NationPress) The state-owned oil marketing entity, Indian Oil Corporation Ltd (IOCL), announced on Monday that the commercial supply of LPG has rebounded to approximately 70% of its pre-crisis metrics amidst prevailing geopolitical challenges.
The public sector undertaking emphasized its commitment to ensuring dependable and efficient energy access, thereby aiding both families and enterprises during this tumultuous period.
Furthermore, the Ministry of Petroleum and Natural Gas reported a remarkable surge in online LPG bookings, now reaching 95%, with no reports of stock shortages at distribution points.
On April 4 alone, more than 5.1 million domestic cylinders were distributed, as stated by the government.
To enhance distribution efficiency and curb diversion, the use of Delivery Authentication Code (DAC)-based deliveries has surged to 90%, up from 53% in February, prior to the supply issues linked to the conflict in Iran.
Consumers are encouraged to utilize digital platforms for ordering LPG cylinders and to minimize physical visits to distributors unless absolutely necessary.
There has also been a notable uptick in the demand for smaller cylinders, with sales of 5 kg LPG cylinders surpassing 90,000 units on Saturday, and approximately 660,000 units sold since March 23. These cylinders are accessible at local distribution centers and can be purchased with valid identification without the need for address verification.
The government confirmed that all refineries are functioning at optimal capacity, maintaining sufficient crude reserves and ensuring adequate petrol and diesel stocks nationwide. Domestic production of LPG has also been increased to meet consumption demands.
Officials reiterated that there is no fuel shortage and urged the public to refrain from panic buying or unnecessary LPG orders.
IOCL further stated its focus on guaranteeing uninterrupted fuel availability, prioritizing essential sectors such as healthcare, pharmaceuticals, and educational institutions.