This situation arises after a period of stability for petrol and diesel prices in India since April 2022. Despite rising global crude oil costs, the government had previously reduced excise duty by ₹10 per litre, resulting in a revenue loss of ₹1.7 lakh crore annually for the state.

Expected price adjustments:

• Petrol and diesel prices are likely to increase by ₹2 to ₹4 per litre soon.
• OMCs are currently losing ₹24 per litre on petrol and ₹30 per litre on diesel.
• The average price of a 19-kg LPG cylinder in Delhi has reached ₹3,071.50.

Meanwhile, LPG demand has also taken a hit; consumption fell by 16.16% in April 2026, dropping to 2.2 million tonnes. This decline in LPG usage reflects broader economic challenges as inflation continues to affect consumer behavior.

A senior official noted, “We cannot keep prices unchanged when there are supply issues. At some point, we have to make adjustments according to market conditions.” The government acknowledges that a price adjustment is unavoidable given the financial strain on OMCs.

Looking ahead, the government is expected to announce a price increase for petrol and diesel soon after the election results. This decision will likely impact consumers across India as they grapple with rising costs amidst ongoing inflationary pressures.

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The question on many people’s minds is whether there is a genuine LPG gas shortage in India. The answer, according to government officials, is a resounding no. The Ministry of Petroleum and Natural Gas has confirmed that there is no shortage of LPG at any distributorship, and all retail fuel outlets have sufficient supplies.

In fact, the government has ramped up domestic refinery production by 40 percent, which has increased daily LPG output to 50 thousand metric tonnes. This surge in production comes in response to the heightened demand for LPG cylinders, which had spiked to 89 lakh due to panic ordering. Fortunately, the demand has since stabilized to around 50 lakh cylinders daily.

Oil companies are successfully delivering over 50 lakh cylinders every day, ensuring that the supply chain remains intact. Sujata Sharma, Joint Secretary (Marketing & Oil Refinery) at the Ministry of Petroleum & Natural Gas, stated, “There is no shortage of LPG at any distributorship,” reinforcing the message that the situation is under control.

India’s fuel reserves are also in a healthy state, with sufficient petrol, diesel, and LPG stock available for nearly 60 days. The total storage capacity for crude oil and fuel in India is approximately 74 days, which provides a buffer against any potential supply disruptions. This is crucial, as India relies heavily on imports for its energy needs, meeting more than 40 percent of its crude imports and 90 percent of its LPG imports from West Asian countries.

Despite the reassurances from the government, the panic that led to increased cylinder orders has raised concerns about misinformation. Officials have called upon citizens not to be misled by what they describe as a “deliberately mischievous, coordinated campaign of misinformation.” This highlights the importance of relying on verified information during times of uncertainty.

As of now, approximately 26 states have allocated 22,000 tons of commercial LPG nationwide, further demonstrating the government’s commitment to maintaining supply levels. Every Indian refinery is reportedly running at over 100 percent utilization, which is a testament to the efforts being made to meet the demand.

While the immediate situation appears stable, the long-term implications of this panic ordering and the potential for misinformation remain to be seen. The government continues to monitor the situation closely, and citizens are encouraged to stay informed through official channels. Details remain unconfirmed regarding any future changes in supply or pricing, but for now, the message is clear: there is no need to panic.

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Indian Oil Corporation Limited (IOCL) has assured that fuel supply across the country remains uninterrupted. All fuel stations nationwide are fully operational with adequate stocks of petrol, diesel, and other petroleum products. Consumers have been advised to rely only on verified information and continue refuelling as usual.

Apprenticeship Recruitment 2026

In a significant move, IOCL has released the IOCL Apprenticeship Recruitment 2026 notification for 405 apprentice posts. This recruitment drive aims to engage trade, technician, and graduate apprentices under the Apprentices Act. Candidates must meet educational and age requirements specified in the official notification to apply for the apprenticeship programme.

The minimum age to apply for the apprenticeship is 18 years, while the maximum age is set at 24 years. The apprenticeship programme provides candidates with hands-on training in technical and operational roles within IOCL facilities.

Interim Dividend Announcement

Furthermore, Indian Oil Corporation Ltd announced an interim dividend of Rs. 2.00 per share, with both the ex-date and record date set for 12 March 2026. This dividend announcement reflects IOCL’s commitment to providing returns to its shareholders amidst its ongoing operations in the fuel supply and apprenticeship sectors.

As IOCL continues to navigate its role in the energy sector, the company remains focused on ensuring that its services and opportunities for young professionals are robust and accessible.

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The ongoing Iran-Israel war has significantly disrupted oil supply chains, particularly through the crucial Strait of Hormuz. As of March 10, 2026, crude oil prices experienced a sharp decline, with Brent crude prices plunging 17 percent to below $80 a barrel before rebounding to near $90. This volatility is largely attributed to the effective closure of the Strait, which is a vital route for oil transportation.

In the United States, petroleum prices have risen approximately 17 percent since the onset of the conflict, reflecting growing concerns over supply disruptions. The International Energy Agency is considering the largest release of oil reserves in its history to stabilize the market.

The war has raised fears of a serious liquefied petroleum gas (LPG) crisis in India, where the majority of LPG consumption is met through imports. With 33.2 crore active domestic LPG connections, the country faces a potential supply gap of 2 million tonnes. The Central government has invoked the Essential Commodities Act to ensure equitable distribution of LPG amidst these challenges.

Restaurants in major cities like Chennai, Mumbai, and Bengaluru are at risk of shutting down due to LPG shortages, with the National Restaurant Association of India highlighting the discrepancy between government assurances and ground realities. They stated, “As per articles [in the media], the government has clarified that there is no ban on the supply of commercial LPG cylinders for the restaurant industry… but the ground situation is different…”

In response to the crisis, the Indian government is securing 1 million tonnes of LPG from the United States. However, the effectiveness of these measures remains uncertain. M.K. Stalin, a prominent political figure, emphasized the need for the Union government to ensure that the LPG cylinder shortage does not adversely affect public and commercial sectors.

Market analysts have noted that the recent fluctuations in oil prices reflect a realignment of supply expectations. Chad Norville remarked, “What we saw this week was the market briefly treating that risk as real and repricing supply disruption in earnest.” This indicates that the market is closely monitoring the ongoing conflict and its implications for global oil supply.

Details remain unconfirmed regarding the long-term impact of the Iran-Israel war on oil prices and the effectiveness of government measures to address the LPG shortage. As the situation evolves, stakeholders in the energy sector and consumers alike are watching closely for developments that may affect supply and pricing.

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Government Actions

As part of the measures implemented, the Ministry of Petroleum and Natural Gas directed oil refineries and petrochemical units to maximize their production of LPG. This directive specifically emphasized the need for increased production to meet domestic demand.

Additionally, the government prioritized the allocation of natural gas to certain sectors, ensuring that fertilizer plants maintain at least 70 percent of their past six-month average gas consumption. This allocation is crucial for maintaining agricultural productivity amid supply constraints.

Gas marketing entities were also instructed to ensure that 80 percent of their gas supply is directed to tea industries and other industrial consumers. Similarly, City Gas Distribution entities must maintain 80 percent gas supply to industrial and commercial consumers.

In contrast, oil refining companies were ordered to reduce their gas allocation to approximately 65 percent of their past six-month gas consumption, reflecting the need to balance supply across various sectors.

Regulatory Measures

To prevent hoarding and black marketing, a 25-day inter-booking period was introduced. This measure aims to regulate the availability and equitable distribution of petroleum products and natural gas, ensuring that households receive the necessary LPG supply.

The government has also mandated that every producer, importer, transporter, marketer, or distributor of natural gas must furnish information to the Central Government, enhancing transparency and oversight in the supply chain.

Current State

As of now, the invocation of the ESMA Act has set a framework for managing LPG supply amid ongoing challenges. The Ministry of Petroleum and Natural Gas has stated, “In light of current geopolitical disruptions to fuel supply and constraints on supply of LPG, the Ministry has issued orders to oil refineries for higher LPG production and using such extra production for domestic LPG use.” This statement underscores the urgency of the situation and the government’s commitment to energy security.

This sequence of events is critical for ensuring that households have access to essential cooking gas, particularly during a time of international uncertainty. The measures taken by the government reflect a proactive approach to safeguarding domestic energy needs while navigating complex global supply issues.

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