Indonesian Political, Business & Finance News

Panic Buying of LPG Grips Citizens Amid US-Israel-Iran Conflict

| Source: CNBC Translated from Indonesian | Energy
Panic Buying of LPG Grips Citizens Amid US-Israel-Iran Conflict
Image: CNBC

Citizens gathered at an LPG distribution agent in Chennai, India on Wednesday to refill gas cylinders amid supply disruptions caused by the US-Israel conflict with Iran. Queues at distribution centres have emerged owing to mounting concerns about potential domestic gas shortages as the energy crisis deepens from the Middle Eastern situation.

The concern arose after Qatar announced last week that it would halt gas production following Iranian attacks on Gulf nations. These attacks occurred as the conflict involving Israel and the United States against Iran intensified, triggering fears of global energy supply disruptions.

Qatar is a primary supplier of liquefied natural gas to India. Production disruptions in the country have raised fears that the impact could extend to affecting domestic fuel availability, including LPG which is widely used by the public for cooking.

In response to these concerns, India’s Petroleum Minister Hardeep Singh Puri stated on Tuesday that there is no shortage of LPG for household needs. He also sought to calm the public following reports of panic buying in several regions.

The Indian government has also taken precautionary measures by implementing emergency powers and directing oil refineries to maximise LPG production. This step has been undertaken to ensure supply remains stable and to prevent shortages of cooking fuel, which is essential for the public.

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