LPG Crisis Sparks Panic Buying Amid Iran War
The global oil and natural gas shortage, triggered by the Iran war, is hitting India hard. LPG prices are soaring, and people are rushing to buy gas cylinders and induction cooktops. The demand for electric cooktops is such that quick commerce options have run out of induction hobs in many neighborhoods across Delhi, Mumbai, Bengaluru, Chennai, and Kolkata.
In Bengaluru, neighborhoods like MG Road, Ashok Nagar, SG Palya, and CV Raman Nagar have no availability of induction hobs. Mumbai’s Powai is completely sold out, while Juhu has low stock. In Delhi, Greater Kailash-1 and -2, along with Kalkaji, have reported out-of-stock status. Even in Kolkata’s Behala and Chennai’s Kodambakkam, supplies are exhausted. However, some localities like Bengaluru’s Whitefield and Bellandur, and Kakkanad suburb in Kerala’s Kochi, still have limited stock available.
Induction cooktops need compatible utensils for cooking, so the rush isn’t limited to cooktops. Even induction-supported utensils, such as pots and pans designed for electric stoves, are running out in multiple localities on these platforms. This stockpiling shows the panic across India as families worry about cooking without gas amid the uncertainty.
Many are switching to electric hobs as the prices of gas cylinders have shot up by Rs 500 to Rs 2,000 on the black market. This has also affected smaller vendors, many of whom have raised the prices of items like samosas, rotis, and other street food by as much as 50%. Many smaller vendors do not use commercial gas refills, which are costlier, but often buy LPG unofficially on the black market. Prices of gas cylinders on the black market have now risen to between Rs 2,000 and Rs 3,000 in Noida and Delhi.
Physical retailers are also seeing a high demand for induction cooktops. A store owner in South Delhi’s Kalkaji told India Today Digital that he was low on stock after selling over 50 induction units in a single day. A staffer at the store said that nearby stores had run out of induction stoves, and they had some left because they had adequate stocks. In Mumbai’s Juhu neighborhood, another retailer reported high demand, with low-cost options already sold out. “We’re moving up to 70 units per day. People are buying one or two cooktops to be safe,” she added.
Despite the government’s assurances, the panic among the people is visible. In cities like Bengaluru and Chennai, eateries are scrambling for cylinders, with some facing delays of days. Bengaluru PG accommodations have begun restricting meal options and limiting gas-heavy dishes like dosa, poori, and chapati due to a shortage of commercial LPG cylinders. As the Iran war drags on, experts warn that prolonged disruptions could push prices higher and strain supplies further. Households are using cylinders judiciously, and trying to buy induction cooktops, which are now in short supply.