The Iran-US-Israel war and its consequent disruption of commercial shipping in the Strait of Hormuz-Persian Gulf have also led to volatility in India's energy market, as in other countries. In this situation, the central government of the country has decided to increase the production of LPG gas used for household purposes by 25 percent.
India's Union Ministry of Energy has given this information in a statement on Wednesday. The statement also said that this decision has been taken mainly to give preference to LPG users for commercial purposes. A three-member committee will be constituted to monitor whether the produced LPG is being properly distributed to restaurants, hotels and other commercial sectors, the Energy Ministry statement said.
Note that India is not self-sufficient in LPG production. India has to import about 60 percent of the total demand of LPG at the national level. 90 percent of this LPG comes back through the Strait of Hormuz.
However, since the start of the Iran-US-Israel war on February 28, the Islamic Revolutionary Guard Corps, the elite wing of Iran's defense forces, has imposed strict restrictions on shipping in the Strait of Hormuz. Several ships have also been attacked in Hormuz in the past few days.
According to data from the British organization UK Maritime Operations,More than a dozen oil tankers have been attacked in the Strait of Hormuz since February 28.
read more..
Israel may face a major attack today from Iran and Lebanon
Severe attack' on Iran to be launched today: US Defense Secretary
