Gas cylinder Price- The effect of the war between Iran and Israel is not just limited to that place, it is also directly affecting the pockets of Indians. The effect of this war can be seen in your kitchen as well.
Let us tell you that there is news that the prices of LPG cylinders may increase in the future. The effect of increasing tension in the Middle East can also be seen on the price of cylinders in India. Because 2 out of every 3 LPG cylinders in the country come from West Asia.
LPG gas may cause problems
According to some media reports, the US attack on nuclear sites in Iran has further increased the fear of supply disruption from West Asia, the world’s largest oil producing region. In the last 10 years, the use of LPG in India has more than doubled. LPG now reaches 33 crore households in India. This is due to the government’s Ujjwala scheme, which has promoted LPG. However, this has also increased India’s import dependency.
About 66 percent of LPG comes from abroad and 95 percent of it comes from West Asian countries like Saudi Arabia, Qatar and UAE. According to Petroleum Ministry data, LPG storage in India is only for 16 days of consumption, which is in import terminals, bottling plants and refineries.
India will not buy more gas
India’s position is much better in terms of petrol and diesel. India is a net exporter of both, that is, 40 percent of petrol and 30 percent of diesel that we produce, we export to other countries. If needed, this export volume can be converted into the domestic market. There are 25 days of stocks for crude oil in refineries, pipelines, National Strategic Petroleum Reserve and ships. Amid the Iran and Israel tension, refiners did not make panic purchases, as they feel that there is less risk of supply disruption.