Petroleum ministry officials assured a parliamentary panel that India has 78 days of crude stock and no LPG shortage amid concerns over fuel station queues. Officials also reported 37 India-bound ships stranded in the Persian Gulf due to disruptions in the Strait of Hormuz.
India's cooking gas (LPG) shortage, caused by the Strait of Hormuz closure, forces refiners to cut alkylate production. This crucial gasoline additive is vital for California's unique blend, leading to higher prices for motorists already facing a global fuel crisis.
Indian restaurants and delivery apps are preparing to increase food prices by 5-10% next week due to rising fuel and LPG costs. This comes as the Middle East conflict pushes global crude prices higher, impacting transportation, supply chains, and input costs. Many businesses are forced to revise annual pricing plans earlier than usual.
Market veteran Pashupati Advani remains cautious about the current market rally, citing unresolved fundamental uncertainties including the Strait of Hormuz closure and its impact on India's oil and LNG imports. He highlights tangible issues such as LPG shortages restricting consumers to one cylinder per month, and warns of potential economic fallout from IT sector headwinds including visa restrictions, AI challenges, and near-zero net hiring. Advani sees relative value in infrastructure plays like cement and steel, benefiting from government spending on roads, housing and urban projects.
