Essential Commodities Act: When and why did Centre invoke it last?

Story so far: In the wake of the oil crisis triggered by the Israel-U.S. strikes on Iran, Centre has invoked the Essential Commodities Act, 1955, on Friday (March 5, 2026), ordering all oil refining companies to maximise production of Liquified Petroleum Gas (LPG) and make it available to domestic consumers only. Naming public Oil Marketing Companies (OMCs) — IndianOil, Hindustan Petroleum and Bharat Petroleum, which supply gas to 99% of…

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Rupee ends 6 paise lower at 91.70 against U.S. dollar in range-bound trade amid West Asia crisis

At the end, the rupee settled at 91.70 (provisional) against the U.S. dollar, losing 6 paise from its previous closing level. File | Photo Credit: Reuters The rupee stayed range-bound throughout the session on Friday and ended 6 paise lower at 91.70 (provisional) against the U.S. dollar, resisting pressure from inflated crude oil prices and…

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Govt asks refiners to maximise LPG production, OMCs to prioritise supply to domestic consumers

The Union government has asked oil marketing companies to prioritise LPG supply to domestic consumers. File. | Photo Credit: Nagara Gopal The Ministry of Petroleum and Natural Gas (MoPNG) has asked oil refining companies to maximise production of liquified petroleum gas (LPG) and make it available to the three public sector entities — IndianOil, Hindustan…

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