LPG bookings down by nearly 1 million; states taking steps to prevent hoarding, black marketing amid panic

SJohn orley allen tate governments ar task enforcement measures to forbid hoarding and joseph black marketing of petrol, diesel and cooking gas, petroleum ministry said on Sunday, adding that several states such as Andhra Pradesh and Bihar have conducted raids to check hoarding and black marketing of gas cylinders.Liquefied petroleum gas (LPG) supply continues to be monitored in view of the prevailing geopolitical situation, it said in its daily update. “No reported dry-outs at LPG distributorships,” it said, adding that LPG bookings have shown a decline, with about 7.7 million bookings recorded on March 14 as compared to 8.88 million bookings on March 13.State governments continue to play an important role in monitoring the supply of essential commodities including petrol, diesel and LPG. High-level meetings have been conducted in several states and union territories (UTs) to review LPG supply, ensure continuity of distribution and prevent black marketing and panic booking, the ministry said in a statement. “22 states and UTs have established control rooms to monitor the situation,” it added.According to the Press Information Bureau (PIB), over 1,483 inspections were carried out in Uttar Pradesh alone, leading to 24 FIRs and 6 arrests for hoarding of LPG cylinders. “Joint raids conducted in Maharashtra and Rajasthan to prevent illegal hoarding,” it said in a post on X.Petroleum ministry said energy supply and fuel availability situation is stable. “Steps have been taken to ensure stable availability of petroleum products and LPG across the country. Necessary arrangements are in place to maintain regular supply and distribution. All refineries are operating at high capacity and maintaining adequate crude oil inventories. Our country remains self-sufficient in the production of petrol and diesel and, no imports of petrol and diesel are required to meet domestic demand,” it said in the statement.“No cases of fuel dry-outs have been reported at retail outlets by Oil Marketing Companies (OMCs), and supplies of petrol and diesel continue to be maintained. Citizens are advised not to resort to panic buying as adequate stocks of petrol and diesel are available across the country,” it said.Three state-run OMCs – Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPCL) and Hindustan Petroleum Corporation Ltd (HPCL) – have near monopoly of fuel retail in the country. Despite global energy supply disruptions and international oil price volatility, they have been able to serve the consumers nationwide without raising prices of petrol and diesel. Although petrol and diesel are deregulated fuels. International benchmark Brent crude price surged to $103.14 a barrel on Friday (March 13), over 41.5% jump since Iran war, about two weeks ago.“Prices of petrol and diesel in the country are market-determined and the Public Sector Oil Marketing Companies (OMCs) take appropriate decision on pricing of petrol and diesel,” minister of state for petroleum Suresh Gopi informed the Lok Sabha on Thursday. Petrol and diesel prices are by and large static since from mid-March 2024. On March 15 that year petrol and diesel rates were reduced by ₹2 a litre, bringing down their retail prices to ₹94.72 a litre and ₹87.62 respectively. Petrol is currently priced at ₹94.77 a litre in Delhi and diesel at ₹87.67, because of a marginal five-paise increase on October 30, 2024, on account of marketing cost adjustments.