The Indian government has permitted oil refining and petrochemical companies to allocate minimum quantities of C3 and C4 hydrocarbon streams, which include propane, butane, propylene, and butenes, for essential sectors such as pharmaceuticals, chemicals, and food distribution. This decision comes in response to previous directives mandating the use of these streams solely for liquefied petroleum gas (LPG) production, which limited petrochemical availability across various sectors. To further support these industries, the government announced a full Customs duty exemption on critical petrochemical products until June 30, 2026, which is expected to lead to a revenue loss of approximately ₹1,800 crore (roughly $217 million USD) over three months. Amid rising energy prices, driven by geopolitical tensions in West Asia, Brent crude oil prices surged by at least 8%, reaching $106.66 per barrel. Experts indicate that the global oil supply may take weeks to stabilize, and prices for both crude oil and liquefied natural gas are expected to remain elevated and volatile.