BUSINESS
LPG gas cylinder: Tension is over, the government's biggest decision regarding LPG gas cylinder, now...
The ongoing war between Iran and the US had a major impact on India's gas supply. Iran first closed the Strait of Hormuz due to the ongoing war with the US. Then, the US also imposed a blockade on this area. The Strait of Hormuz is a crucial route for fuel transportation, as approximately 25% of the world's fuel needs are transported through this route. Furthermore, approximately 40% of India's fuel is supplied through this route. Therefore, the closure of the Strait of Hormuz led to a significant LPG gas shortage in India. The shortage of commercial gas forced hotels to close for a while. People even had to wait in line for domestic gas. Now, keeping this experience in mind, the Indian government has taken a major decision. India has found a way to overcome the gas shortage.
India has now started buying gas from the US. According to government data, in the first three months of the current financial year 2026-27, India's purchases of petroleum products from the US increased by 254 percent year-on-year, estimated to be worth approximately $2.60 billion. This primarily includes LPG gas. However, on the other hand, India's crude oil purchases from the US have declined significantly year-on-year, falling by 57.5 percent.
According to government data, India purchased a significant amount of gas from the United States between April and June. This was due to the ongoing war between the United States and Iran in the Middle East, which led to a major conflict in the Middle East. This significantly impacted fuel supplies, leading to a complete halt in fuel imports. India has now resumed purchasing gas from the United States. Meanwhile, due to the abundant supply, it is also anticipated that gas prices will decrease in the future.
PC: TV9
