IOC enforces 25-day lock-in rule for second LPG cylinder booking to prevent panic buying
The corporation assured there is no LPG shortage in Northeast as all bottling plants operate normally, and the gap is implemented to stabilise supply.
AT Photo
Guwahati, March 8: The Indian Oil Corporation (IOC) has said that there is no shortage of LPG as of now, but a 25-day lock-in rule will be enforced to stabilize the demand and normalize the supply chain.
“All the eight bottling plants in Northeast are operating normally. There is sufficient stock with the distributors as well,” an IOC official said, against the backdrop of fears that the ongoing military conflict in West Asia could disrupt fuel import.
However, customers will be able to book the second cylinder only after 25 days of the delivery of the earlier one.
“This lock-in rule was there before, but not strictly implemented. It is being done now to ensure that there is no panic buying, hoarding or diversion. It will help stabilise demand and normalise the supply chain,” the official said. Generally, customers are allowed to book up to 2 cylinders per month and 15 cylinders per year.
Earlier, the government had directed the refiners to increase LPG output and sell the fuel only to three state-run oil marketing companies, IOC, Bharat Petroleum and Hindustan Petroleum. This order aims to ensure uninterrupted domestic cooking gas supply amid supply chain disruptions in West Asia.
Despite rising domestic production, India still relies heavily on imports to meet LPG demand. The country imports around 60 per cent of its LPG requirement, making domestic supply vulnerable to global price swings and shipping disruptions.