The Indian government has announced measures to secure fuel and liquefied petroleum gas (LPG) supplies following recent disruptions to shipping in the Strait of Hormuz. The actions come in response to a series of attacks on commercial vessels in the critical waterway, which have raised global oil prices and threatened supply chains.
Officials stated that the country is increasing the supply of petrol, diesel, and LPG to the market. The government has also reduced import duties on LPG to help stabilize domestic prices and ensure availability. Authorities have urged citizens to avoid panic buying, emphasizing that sufficient stocks are being maintained.
The Strait of Hormuz is a vital chokepoint for global oil shipments, with a significant portion of India's energy imports passing through it. The recent security incidents have prompted India and other major importers to reassess supply routes and contingency plans to mitigate the impact on their economies.
