India's LPG Production Surges Amid Global Energy Challenges

Increased LPG Production and Fuel Stability

On Tuesday, Hardeep Singh Puri, the Union Minister for Petroleum and Natural Gas, announced a significant rise in LPG production, now reaching between 55,000 and 56,000 tonnes, up from approximately 35,000 tonnes previously. He emphasized that there is no fuel shortage across the nation.

During his address at the CII Annual Business Summit 2026, Minister Puri remarked, "We have turned challenges into opportunities. Prices have remained unchanged for the past four years. While I cannot guarantee that prices will not rise, I can assure you that fuel prices and elections are not connected." He further stated, "We possess 60 days' worth of crude oil, which is the maximum required, along with 60 days of LNG and 45 days of LPG supply."

Despite global energy price hikes and shortages affecting many countries, India has maintained a stable energy supply. Puri noted, "In the last four years, we have not raised prices. Today, we stand in stark contrast to other nations facing severe supply issues or experiencing price increases of 50-60%." He reiterated that India has ample reserves of crude oil, LNG, and LPG, even amidst ongoing disruptions in the Strait of Hormuz.

However, he acknowledged that oil marketing companies are incurring losses of Rs 1,000 crore daily, with total under recoveries reaching Rs 198,000 crore, and losses for the current quarter amounting to Rs 1 lakh crore.

Meanwhile, Brent Crude Oil prices continued to rise on Tuesday, driven by uncertainties surrounding the Iran conflict, with Brent crude futures increasing by 30 cents to $104.51 per barrel, and US West Texas Intermediate climbing 31 cents to $98.38. This surge follows US President Donald Trump's declaration that Iran's response to peace proposals was "totally unacceptable," raising concerns about the conflict's repercussions on global energy supplies.