India likely to ease emergency fuel measures after U.S.-Iran deal
India is likely to review and gradually roll back the emergency fuel measures it put in place when tensions in West Asia disrupted shipping through the Strait of Hormuz, a key route for oil shipments.
With a U.S.-Iran deal ending their conflict, global oil prices are settling and the strait could potentially reopen or normalize shipping through the Strait, so officials say these extra precautions will be reviewed and eased once the global situation stabilizes.
State-run oil firms losing ₹550cr daily
To keep things running smoothly, India tightened liquefied petroleum gas (LPG) monitoring, redirected natural gas to homes and fertilizer plants, and limited how much fuel people could buy.
Refiners were told to boost LPG production by shifting resources from petrochemicals.
Even with all this effort, state-run oil firms have been losing about ₹550 crore each day because retail prices stayed lower than what it cost to produce fuel.