LPG Cylinder: Suddenly the government took a shocking decision! Oil companies got this strict order

Business Desk: In view of the continuously increasing tension in West Asia, the Indian government has come on full alert mode. The government has taken a very important step to strengthen its energy security. The Ministry of Petroleum and Natural Gas has issued a strict and important instruction to the government oil companies (OMCs) of the country. The government has said that to deal with any emergency or crisis in the future, companies should keep at least 30 days of LPG reserve stock i.e. backup ready in any case.

The main objective of the government is that even if there is a major emergency at the international level, the common citizens of the country do not have to face shortage of cooking gas. Not only LPG, the government is also working rapidly on accumulating extra stock of Crude Oil so that there is no break on the pace of the country.

Skyrocketing fuel prices and huge losses for companies

At present, crude oil prices are rising like a rocket in the international market. Before the start of the situation of tension and war, i.e. in the month of February, the crude oil which India was getting at the price of $ 69.01 per barrel, has increased to the dangerous level of $ 106.83 per barrel in May.

Due to this huge surge in crude oil prices, the burden on Indian oil companies has increased a lot and they are facing huge losses of about Rs 550 crore every day. As a result of this huge pressure, the pockets of the general public have also been affected and within the last 10 days, the prices of petrol and diesel have increased by about Rs 7.5 per liter.

Current mathematics of demand and domestic production of LPG in the country

If we talk about the consumption of LPG in the country, at present the daily demand of LPG in India remains around 72,000 metric tons, which earlier used to be around 80,000 metric tons. Against this demand, our domestic refineries are themselves producing about 52,000 metric tons of LPG every day. Now, to meet the remaining needs and to reduce foreign dependence, efforts are being made to further improve and speed up the functioning of domestic refineries.

Many Indian ships stuck in sea route, government’s concern increased

The increasing tension in the Strait of Hormuz area of ​​West Asia has had a direct impact on maritime trade. 13 big ships of India are stuck in this route, which has increased the concern of the government. These stranded ships include 1 LPG carrier (ship carrying LPG gas) and 5 large crude oil tankers. The Shipping Ministry is constantly keeping a close eye on this entire incident and serious situation, so that the safe return of these ships and the Indian crew present on them can be ensured as soon as possible.