No Need to Panic for Petrol and LPG Supplies, Say Dealers
LPG and petroleum supplies remained uninterrupted and prices remained unchanged in Hyderabad.
Hyderabad: The Consortium of Indian Petroleum Dealers (CIPD), a national body, on Thursday dismissed rumours of a shortage of petrol and LPG or an imminent price rise amid the West Asian crisis, stating that supplies remain adequate and reserves sufficient.
Speaking to Deccan Chronicle, Rajiv Amaram, joint secretary (south) of the Consortium of Indian Petroleum Dealers (CIPD), said, “There is no need to panic. There are enough oil reserves sufficient for three months in the country. We also have oil trade treaties with several countries that will enable us to import more from other nations, unless the war is prolonged.”
“Even if global oil prices rise, oil companies have the capacity to keep domestic prices unchanged. This is because earlier, when crude prices fell, companies did not reduce retail prices. With those earnings, they undertook several reforms, which are now benefiting the nation,” he explained.
LPG and petroleum supplies remained uninterrupted and prices remained unchanged in Hyderabad.
Telangana LPG Distributors Association president Jagan Mohan Reddy said domestic LPG availability in the state remains sufficient. “There is LPG stock till the 28th of this month. The price of the domestic gas cylinder has remained ₹905 since last April and there is no change as of now. In Telangana, around 59 lakh domestic cylinders are supplied every month. Delivery is done within 24 to 48 hours. We request consumers to maintain OTP discipline so that no misuse takes place,” he said.
India is the world’s third-largest consumer of crude oil, with consumption reaching about 5.6 million barrels per day in 2024. Demand is projected to rise to seven million barrels per day by 2030 as vehicle ownership increases. India imports nearly 88 per cent of its crude oil requirement.