Government Confirms No LPG Shortage Amid Consumer Panic
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Key Takeaways
New Delhi, March 12 (NationPress) The country is not facing an LPG shortage, and "no depletion has been noted", stated Sujata Sharma, the Joint Secretary of the Petroleum and Natural Gas Ministry, during a press briefing on Thursday.
During her remarks on the prevailing LPG circumstances, she mentioned a surge in LPG bookings as consumers hurried to secure their supplies due to worries about possible interruptions. She characterized this rush as "panic-induced rather than stemming from any real deficit".
"The Strait of Hormuz has been shut for commercial shipping. Following government action, 70% of our imports are now being routed through alternatives to Hormuz. Our crude oil situation remains relatively stable," Sharma added.
In terms of commercial LPG distribution, hospitals and educational institutions have been prioritized, she noted.
Additionally, the Environment Ministry has suggested utilizing biomass, kerosene, and coal as substitute fuels for the next month while authorities prepare for potential energy supply interruptions.
This advisory aims to promote temporary fuel alternatives to alleviate the demand pressure on LPG and ensure energy availability during this period.
India consumes approximately 5.5 million barrels of crude oil daily and has secured supplies exceeding the typical volumes that would arrive via the Strait of Hormuz at this time.
Sharma pointed out that around 70% of India's crude oil imports are currently sourced from alternative routes.
The proportion of non-Hormuz sourced crude imports has risen to about 70%, compared to 55% before the conflict began.
India now imports crude from 40 different countries, a significant increase from 27 in 2006-07. This structural diversification, achieved through consistent policy efforts over many years, has provided us with options that other nations currently lack.
Government reports indicate that refineries are running at high capacity utilization, with some exceeding 100% efficiency.