Govt asks oil companies to have at least 30-day LPG reserves
New Delhi: The Government has asked State-run oil marketing companies to have at least 30 days of LPG reserves as energy imports continue to be disrupted because of the conflict in West Asia.
“We are working on strategic reserves (for oil and gas). Oil marketing companies have been told to maintain a minimum 30-day reserve for LPG and they are working on it and similarly for crude also we are working on it,” Sujata Sharma, Joint Secretary in the Petroleum Ministry said.
She said the demand for LPG has come down to 72,000 metric tonnes against 80,000 metric tonnes earlier.
The Indian refineries are presently producing 52,000 metric tonnes of LPG, she while addressing a press conference here.
“LPG production depends on optimisation (within the refineries). We are also giving the part of the pool to C3 and C4 molecules. Some of the refineries have come back to operations, and other than that we are getting more LPG because of optimization from some of the refiners,” she said.
“Demand for LPG is also impacted due to seasonal variations,” Sharma said.
Regarding hike in prices of petrol and diesel, she said OMCs are currently incurring losses amounting to Rs 550 crore per day on account of increased international prices of crude oil.
In the fourth such hike in 10 days, the fuel retailers raised petrol price by Rs 2.61 a litre and diesel by Rs 2.71 per litre.
The increase takes the cumulative rise in petrol and diesel price to nearly Rs 7.5 a litre after daily.
