Kathmandu. Tensions in the Middle East are at an all-time high due to Iran’s war with the US and Israel. This escalating conflict has created difficulties in the energy sector. This has led to panic in countries like Pakistan and Bangladesh.
Meanwhile, the gas crisis in India seems to be increasing. The price hike of LPG cylinders on March 7 has given a serious shock to the people and even after that, the Government of India is taking many big decisions. The Government of India has also changed the rules related to booking LPG cylinders.
Amid the Iran war, global oil and gas concerns are rising. The government claims that there are enough reserves in India. However, amidst these claims, the Iran war has sparked panic in major Indian cities about LPG cylinders. Long queues have formed outside gas agencies in many places, including Uttar Pradesh, Kolkata and Hyderabad.
However, the Indian government and experts have clearly stated that there is no shortage of gas in the country and this situation is only due to terror bookings.
On March 7, the Indian Oil Corporation (IOCL) revised the price of LPG cylinders. Suddenly, the prices of both commercial and cooking gas cylinders went up. That dealt a major blow to prices amid concerns about supply disruptions caused by the war. The price of a 14-kg domestic LPG cylinder has been hiked by Rs 60 and a commercial cylinder by Rs 115. This has not only affected the general public but also businesses such as hotels and restaurants.
With the increase in the price of cooking gas in India, it is certain that it will increase in Nepal. Because Nepal is supplying gas from India.
On the other hand, the Indian government will first focus on the interests of domestic consumers. This means that India is now likely to send gas to Nepal as regularly as before. Analysts say that this will increase the price of LPG in the Nepali market and it will be difficult to avail.
The Indian government has also been taking swift decisions in response to the recent geopolitical disruptions in fuel supplies amid global tensions caused by the US-Israel war between Iran and the US-Israel. In response to the disruption in gas supplies, India’s petroleum ministry has ordered oil refineries to increase LPG production and use the excess for domestic LPG use.
To address the LPG crisis, India has changed the LPG cylinder booking rules, among other government decisions. The Government of India has increased the minimum time limit for booking LPG cylinders to 25 days from the previous 21 days. The government has taken this decision to stop storage and it clearly means that cylinders can now be booked only after 25 days.
