Amid the ongoing US-Iran conflict, concerns about a global energy crisis have grown. Tensions increased after United States and Israel's strikes on Iran on Feb. 28, affecting the important Strait of Hormuz, which is a key shipping route.
In response to the strikes, Iran has blocked the strategic strait. This has put pressure in the region and raised fears of oil and gas supply disruption. As a result, many countries are scrambling to secure their energy needs.
Fear and panic has also gripped India, which imports a large share of its energy. Visuals emerged on social media, showing common public queuing outside gas stations to secure gas from distributors, fearing that they might run out soon or prices may be increased.
India is the world's second-largest importer of liquefied petroleum gas (LPG), mainly used as a cooking fuel. The country consumed about 33.15 million metric tonnes last year, with nearly two-thirds of the supply imported, largely from the Middle East, according to Reuters.
Also Read | Does India Have Enough Crude Oil? Here's How Long Reserves May Last
Union Minister for Petroleum and Natural Gas Hardeep Singh Puri has clarified that India's crude supply remains secure. According to the government data, India's 40% crude imports pass through the conflict-hit narrowway waterway. Additionally, India currently imports crude from around 40 countries, compared to 27 countries a decade ago.
Amid shortage concerns, Puri said LPG production has been increased by 28% through refinery directives and additional procurement is underway.
Amid these developments, people continue to watch LPG prices as supply concerns raise fears of shortage or possible price changes in the coming days.
Also Read | India Taps Alternative Crude Supplies As Iran Conflict Drags On
LPG Prices In Different Cities On March 14:
According to Goodreturns website, the prices of domestic and commercial LPG cylinders have been increased as Middle East tensions continue to escalate. Here are the latest rates in different cities:
City | Domestic (14.2 Kg) | Commercial (19 Kg) |
New Delhi | Rs 913.00 ( +60.00 ) | Rs 1,884.50 ( +144.00 ) |
Kolkata | Rs 939.00 ( +60.00 ) | Rs 1,988.50 ( +144.00 ) |
Mumbai | Rs 912.50 ( +60.00 ) | Rs 1,836.00 ( +144.00 ) |
Chennai | Rs 928.50 ( +60.00 ) | Rs 2,043.50 ( +144.00 ) |
Gurgaon | Rs 921.50 ( +60.00 ) | Rs 1,901.50 ( +144.00 ) |
Noida | Rs 910.50 ( +60.00 ) | Rs 1,884.50 ( +144.00 ) |
Bangalore | Rs 915.50 ( +60.00 ) | Rs 1,958.00 ( +144.00 ) |
Bhubaneswar | Rs 939.00 ( +60.00 ) | Rs 2,029.00 ( +144.00 ) |
Hyderabad | Rs 965.00 ( +60.00 ) | Rs 2,105.50 ( +144.00 ) |
Jaipur | Rs 916.50 ( +60.00 ) | Rs 1,913.00 ( +144.00 ) |
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