LPG Crisis: "3K Raids Conducted, 1,500 Cylinders Seized On March 27," Says MoPNG

During an inter-ministerial briefing today, Sujata Sharma, Joint Secretary, MoPNG, noted that 3,000 raids were conducted. leading to seazure of 1,500 cylinders amid rising concerns linked to a nation-wide LPG crisis.

Further, she noted that India's situation when it comes LPG, PNG, diesel and petrol supplies remains to be "comfortable", however, scenes of panic booking and long queues at petrol pumps has become daily occurrence.

Refineries are operating over 100% capacity, while there has been a 40% rise in domestic LPG production, according to MoPNG.

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Meanwhile, 710 FIRs were registered on March 27, resulting in over 350 fuel distributors receiving show cause notice.

Sharma further noted that while commercial LPG supply was halted for a while, the centre in phased manner has restored it from 20% to 70% supply. The move to restore commercial LPG supply will now prioritise industries such as chemical, steels, dyes, and plastics.

This comes amid a volatile trading session for PSU OMCs on Friday. BPCL shares closed 1% lower at Rs 281.80, HPCL shares ended 0.90% lower at Rs 341.10 apiece, while IOCL share price stood 2.24% lower at Rs 137.50 per share. 

Earlier, Petroleum Minister, Hardeep Singh Puri, noted, “We are closely monitoring developments across energy, supply chains, and essential commodities on a real-time basis.”

“Government has taken a huge hit on it taxation revenues to ensure very high losses of oil companies (approximately 24 Rs/litre for petrol and 30 Rs/litre for diesel) at this time of sky high international prices are reduced. At the same time, export tax has been levied as international prices of petrol and diesel have skyrocketed and any refinery exporting to foreign nations will have to pay export tax,” he said.