Rumours have been laid to rest after the Indian government dismissed all the speculations of a nationwide lockdown on Friday. This move came after a social media frenzy about a proposal to implement lockdown in the country as the oil prices rise and West Asia tensions continue with negative sentiments in the financial markets as well.
Hardeep Singh Puri, Union Minister for Petroleum and Natural Gas, took to social media platform X and issued a statement that no such proposal is being considered by the government. He also said that people spreading these rumours are “irresponsible and harmful”, issuing a warning to all those who are spreading this fake news online. Since the start of this conflict in West Asia crude prices have increased sharply internationally which has spread anxiety about the availability of fuel for domestic consumption. Visuals of long queues has been observed at the petrol pumps as people have started to panic buy which has created more troubles for the administration.
Minister Puri has reassured the citizens and the market that India’s position is secure, he explained that the supply of crude has increased to 70% from non-hormuz routes and also stated that refineries are operating above 100% capacity. The ministry has also directed the oil refineries to ramp up the LPG production and send it for domestic consumption so that the household supply remains uninterrupted.
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