The Government of India has invoked the Essential Commodities Act, 1955, to regulate the availability, supply and equitable distribution of petroleum, petroleum products and natural gas. The move aims to empower authorities to ensure uninterrupted access to critical fuel supplies, prevent hoarding and stabilize distribution amid the ongoing Iran war and supply disruptions. The order was passed by the government to regulate the natural gas supply so that the highest priority can be given to piped natural gas for homes and CNG for vehicles.
The decision was taken to protect consumers from potential supply shocks linked to tensions affecting shipments through key routes such as the Strait of Hormuz.
The escalating war in West Asia involving Iran, Israel and the United States is beginning to have spillover effects beyond the conflict zone, with concerns emerging over its impact on India’s energy and trade flows. India relies heavily on imports to meet its liquefied petroleum gas (LPG) demand, a significant share of which comes from West Asian suppliers.
Addressing Parliament on Monday, External Affairs Minister S Jaishankar described the developments in West Asia as a “deep cause for concern" and said the government is closely monitoring the potential impact on global supply chains and energy markets.
The minister further noted that continued instability could disrupt trade, commercial activity and energy flows vital to India’s economy.
See What’s Next in Tech With the Fast Forward Newsletter
Tweets From @varindiamag
Nothing to see here - yet
When they Tweet, their Tweets will show up here.
