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India Extends LPG Cylinder Booking to 25 Days to Curb Panic Buying

The government has increased the minimum waiting period for booking an LPG cylinder refill from 21 to 25 days to curb hoarding and manage inventory amid a surge in panic buying. Officials cite a 15-20% demand increase due to fears of supply disruption from the escalating Middle East conflict. Despite international crude oil prices crossing $100 a barrel, retail prices for petrol and diesel will not be increased immediately as oil marketing companies absorb the cost pressure. Parliament was informed that India has a total strategic storage capacity for crude oil and petroleum products sufficient for 74 days to buffer against supply shocks.

Key Points: LPG Cylinder Booking Period Extended to 25 Days by Govt

  • LPG booking period extended to 25 days
  • Aim is to prevent hoarding and panic buying
  • Petrol and diesel prices not raised despite high crude costs
  • India has 74 days of strategic oil storage
2 min read

Govt increases booking period for LPG cylinder to check hoarding

Government increases LPG refill waiting period from 21 to 25 days to prevent hoarding amid Middle East war concerns. Fuel prices held steady.

"The step has been taken as there was a surge in demand of 15 to 20 per cent due to panic booking. - Official"

New Delhi, March 9

The government has increased the minimum waiting period for booking a domestic LPG cylinder refill from 21 days to 25 days to prevent hoarding, as there were signs of panic buying taking place in the market amid the uncertainties due to the Iran war.

Officials said that there is a sufficient supply of LPG available in the country, and the booking time for LPG cylinders has been increased as a measure to manage inventory effectively.

The step has been taken as there was a surge in demand of 15 to 20 per cent due to panic booking, due to fears that supply would be disrupted because of the escalating war in the Middle East.

Average households consume 7-8 LPG cylinders of 14.2 kg in a year and should normally not need a refill in less than 6 weeks, an official pointed out.

A senior official said that petrol and diesel prices will not be increased for now despite international crude oil rates crossing $100 per barrel. Oil marketing companies-- Indian Oil, Bharat Petroleum and Hindustan Petroleum-- are expected to absorb the current cost pressure for the time being.

He said the government is closely monitoring global oil markets, but there is no immediate plan to raise retail fuel prices.

Meanwhile, the Parliament was informed on Monday that India currently has a total capacity for storage of crude oil and petroleum products for 74 days, which can help to tide over disruptions in case of adverse situations such as geopolitical conflicts.

"The government has established Strategic Petroleum Reserves facilities with a total capacity of 5.33 million metric tonnes (MMT), which can act as a buffer for short-term supply shocks such as geopolitical conflicts. This is meant to provide for about 9.5 days of crude oil requirement. In addition, Oil Marketing Companies in the country have storage facilities for crude oil and petroleum products for 64.5 days. Hence, the current total national capacity for storage of crude oil and petroleum products is 74 days," Minister of State for Petroleum and Natural Gas Suresh Gopi told the Rajya Sabha in a written reply.

- IANS

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Reader Comments

P
Priya S
While I understand the reason, it's a bit inconvenient for larger families. We go through a cylinder in about 5 weeks. Adding 4 more days to the booking period means we have to plan very carefully to avoid running out. Hope the supply chain remains strong. 🙏
R
Rohit P
The real relief is that petrol and diesel prices are not being increased for now. With everything getting expensive, at least fuel costs are stable. Kudos to the OMCs for absorbing the cost pressure. Hope this continues.
A
Anjali F
The 74-day storage buffer is reassuring news. It shows some planning for crises. However, the government should also focus on increasing our domestic production and renewable energy sources to reduce this dependency on global turmoil.
D
David E
Living in Delhi, I've seen queues at gas agencies. This policy might help in the short term, but clear communication is key. People panic when they hear "war" and "supply disruption." Authorities need to keep reassuring the public about stock levels.
K
Karthik V
A small request: please ensure the booking apps and customer service lines work smoothly. Last time there was high demand, the IVR system crashed and online payment failed. The tech infrastructure needs to handle the load.

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