Amid a spike in global energy rates due to the ongoing conflict in the Middle East following the US-Israeli attack on Iran, the LPG booking period has been increased from 21 to 25 days, said government sources.
Steps have been taken in order to stop hoarding and black marketing of the LPG.
Meanwhile, the government has ordered refineries to boost LPG output and give priority to domestic LPG consumers.
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Sources also stated that Algeria, Australia, Canada, Norway and the UAE have approached to sell LPG.
On Saturday, the prices of domestic cooking gas LPG was hiked by a steep Rs 60 per cylinder. It was the second increase in rate in less than a year after the price was hiked by Rs 50 in April last year.
However, despite the increase in price, LPG in India is cheaper than Katmandhu, Sri Lanka and Pakistan.
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The sources also said that retail prices for petrol and diesel are unlikely to be hiked, adding that the government has accelerated sourcing crude from non-Hormuz Strait sources.
"India has sufficient Aviation Turbine Fuel (ATF) stocks and there is no need to panic."
They also stated that India remains to be in a comfortable position as oil prices continue to be volatile as the Strait of Hormuz remains shut for three weeks.
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