Petrol and Diesel Prices Today: Government Issues Major LPG Update Amid Iran-Hormuz Tensions

New Delhi: Everyone is keeping an eye on the prices of petrol and diesel amid increasing tension in the Middle East regarding Iran and the Strait of Hormuz. Meanwhile, the central government has taken a big decision to maintain domestic availability of LPG and balance the energy supply. The Ministry of Petroleum and Natural Gas said in a statement issued on June 25 that now the system related to the use of C3-C4 gas stream will be changed so that a balance can be created between LPG production and other industrial needs.

What decision has the government taken regarding C3-C4 gas?

During the ongoing crisis in West Asia, the government had issued orders under the Essential Commodities Act to use the C3-C4 gas stream only for LPG production. Due to this, the gas going to petrochemical industries was diverted towards LPG production. Now, after domestic LPG production and availability of imported LPG have improved, this system has been partially changed.

Will domestic LPG supply be affected?

The government has clarified that some part of C3-C4 gas will now be made available again for non-LPG use. However, this will not have any impact on the availability of LPG for domestic consumers. The government has also ensured that indigenous LPG production in the country will not be less than 40 thousand metric tonnes (40 TMT) a day.

What instructions have been given to oil marketing companies?

The petroleum ministry has directed all oil marketing companies (OMCs) to prepare detailed data of commercial and industrial LPG consumers. Along with this, a common national database will also be created so that the supply, monitoring and distribution system of LPG can be further improved.

What are the petrol rates in Delhi, Mumbai and Kolkata today?

The price of petrol in Delhi on June 26 is Rs 102.12 per litre. Petrol is being sold at Rs 111.21 per litre in Mumbai, Rs 113.51 in Kolkata and Rs 107.76 per litre in Chennai. Whereas petrol was recorded at Rs 102.97 per litre in Gurugram, Rs 101.96 in Noida and Rs 111.68 per litre in Bengaluru.

How much is diesel available in major cities today?

Diesel price in Delhi is Rs 95.20 per litre. Diesel is being sold at Rs 97.83 per litre in Mumbai, Rs 99.82 in Kolkata and Rs 99.55 per litre in Chennai. Diesel is Rs 95.64 in Gurugram, Rs 95.44 in Noida and Rs 99.56 per litre in Bengaluru.

Could the Iran crisis impact India's fuel market?

Experts believe that if tension in the Strait of Hormuz continues for a long time, there may be fluctuations in international crude oil prices. However, at present there has been no major change in the retail prices of petrol and diesel in India. The government and oil companies are constantly monitoring the global situation.