As fears of LPG shortages intensify due to West Asia conflict disruptions, the Indian government has assured adequate supplies and cracked down on black-marketing, while induction stove demand continues to surge following the initial rush reported earlier this week. Prime Minister Narendra Modi urged calm, promising to overcome the crisis like during Covid.
Building on the sharp rise in induction stove sales triggered by initial LPG supply concerns, the government has invoked emergency powers to prioritize household cylinders, curtailing commercial allocations for restaurants and hostels.
TTK Prestige CEO Venkatesh Vijayaraghavan reported a threefold demand surge, with production at full capacity and planned price hikes in June. Reports indicate Delhi is negotiating with Tehran for safe passage of India-bound fuel ships through the Strait of Hormuz.
Prime Minister Modi warned of strict action against panic-mongering and black-marketeers. Delhi Police alerted on cyber scams with fake booking links. In Madurai, authorities seized 398 cylinders and arrested two individuals. Punjab CM Bhagwant Singh Mann dismissed shortage rumours, affirming ample stocks.
Alternative fuels like kerosene and biomass are being activated. Oil marketing companies are distributing around 50 lakh cylinders daily, with petrol and diesel prices stable.
