Union Petroleum Minister Hardeep Singh Puri said India has no fuel shortage despite a ₹3 per litre increase in petrol and diesel prices [1].
The price hike comes amid supply disruptions and crude price spikes caused by conflict in West Asia. The government's assurance regarding reserves aims to stabilize markets and calm public concern over energy security during geopolitical volatility.
Speaking at the CII Annual Business Summit in New Delhi, Puri said that the country's strategic stockpiles remain robust. He said India holds 60 days of crude oil [2] and 60 days of liquefied natural gas (LNG) [2]. Additionally, the minister said that the nation maintains 45 days of liquefied petroleum gas (LPG) reserves [2].
"India has 60 days of crude, no shortage anywhere," Puri said [3].
The cost of petrol has risen to Rs 97.77 per litre [1], while diesel now costs Rs 90.67 per litre [1]. The minister said that these adjustments are tied to global market conditions rather than internal shortages. He said that the fuel supply chain remains secure across the country [3].
"We have 60 days of crude oil, 60 days of LNG, and 45 days of LPG," Puri said [2].
The administration's strategy focuses on maintaining these buffers to insulate the domestic economy from sudden shocks in the Middle East. By keeping reserves above the 45-day mark for various fuel types, the government intends to prevent panic buying and ensure industrial continuity, a critical factor for India's economic growth.
“"India has 60 days of crude, no shortage anywhere."”
The alignment of price hikes with the announcement of strong reserves suggests that the Indian government is prioritizing long-term energy security over short-term price stability. By maintaining 60-day buffers of crude and LNG, India is attempting to hedge against the volatility of the West Asia conflict, ensuring that while costs may rise for consumers, the physical availability of fuel remains guaranteed.
