LPG Gas: The effect of the war between America and Iran can now be seen in our kitchens. If this war continues a little longer, there could be a cut in the LPG gas cylinders coming to our homes, and as a result, the price of the cylinders could increase a lot. Two out of every three cylinders coming to Indian kitchens come from the West.
Concerns increased after the American attacks
After America’s attack on Iran’s three nuclear sites, there is a possibility of a halt in oil production all over the world. Indian policymakers and other industry makers believe that there is no uniformity in the whole world regarding cuts.
LPG consumption has increased, and dependency has increased
The Indian government has increased the LPG consumption to 33 crore households in the last 10 years. Due to which, dependency on India’s exports has increased. LPG consumption has doubled in the last 10 years. 66% of the LPG used in India is imported, out of which 95% comes from South Asia like Saudi Arabia, UAE, and Qatar.
Only 16 days of stock left in the storehouse
The Economic Times has mentioned in its article that as per the figures of the Petroleum and Natural Gas ministries of India, India has only 16 days of gas and resources left as per the maximum capacity of India to store.