The Government of India enacts the Essential Commodities Act, 1955 to regulate the availability, supply and equitable distribution of petroleum and petroleum products and natural gas.
Essential Commodities Act, 1955
The Essential Commodities Act, 1955, is a law of India. It empowers the government to control the production, supply, distribution and price of essential commodities like petroleum, gas, edible oil. Purpose: To ensure availability to the common people at reasonable prices, to stop hoarding-black marketing. At present, petroleum products have been implemented so that the supply is maintained.