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LPG Price in India: The ongoing tension over tariffs seems to be subsiding. The ongoing tension between India and America regarding tariffs is gradually reducing. A big agreement has been signed between India and America regarding LPG. This is likely to reduce the prices of LPG in the domestic market. India has signed an agreement with the US to import about 22 lakh tonnes of LPG by 2026. According to this agreement, about 10% of India’s annual imports will come from the US. Under this agreement, import of LPG will start in 2026. This agreement has been signed by Indian public sector oil companies with American companies. Talking about this, Petroleum and Natural Gas Minister Hardeep Puri said that this agreement is important in the backdrop of US tariffs and the US has given up its insistence on Indian agricultural products for a trade agreement.Which companies signed this agreement?India’s state oil companies, Indian Oil Corporation, Bharat Petroleum Corporation Limited and Hindustan Petroleum Corporation Limited have signed a joint LPG agreement with the US. This agreement is for only one year and under this, 22 lakh tonnes of LPG will be imported from America in 2026. Next year, 10% of India’s total imports will be from America. This import will reach Indian ports directly from the US Gulf Coast. India imports 66% of its annual LPG consumption. Most of the LPG imports come from the Middle East, which includes 8.1 million tonnes from UAE, 5 million tonnes from Qatar, 3.4 million tonnes from Kuwait and 3.3 million tonnes from Saudi Arabia. Although imports will decline initially in 2025, 2.2 million tonnes of LPG imports from the US are also expected to be significant. India will produce an estimated 1.3 million tonnes of LPG in 2024, accounting for about 42% of total consumption. Indian Oil is the largest producer of LPG at 30,000 tonnes per year. The government plans to increase LPG production by 15% by 2030, which will result in an annual growth rate of about 3.5% during this period.