India currently has about 60 days of crude oil and fuel stock cover, along with 800,000 tons of assured LPG supplies, the government said on Thursday, asserting that there is “no need for an emergency” despite the disruptions caused by the conflict in West Asia.
The Ministry of Petroleum and Natural Gas published stock details for the first time since the conflict began on February 28, aiming to combat panic buying and reassure consumers amid reports of long queues at petrol stations and LPG distributors.
60-day oil cover, no supply gap
Breaking down the reserves, the ministry said India has a total storage capacity of about 74 days, while the current stock cover is about 60 days. This includes crude oil, refined petroleum products, and strategic reserves stored in underground caverns.
“The actual inventory cover is about 60 days at the moment,” she said, adding that crude oil supplies for the next 60 days have already been restricted by Indian oil companies.
“Every Indian refinery is operating at more than 100 percent utilization… There is no supply gap,” the ministry said in a statement.
While the turmoil around the Strait of Hormuz affected much of the supply, the government said a rise in imports from alternative global sources made up for the shortfall.
Securing 800 thousand tons of liquefied petroleum gas
Regarding LPG, the ministry said that 800,000 tons of shipments have been secured, ensuring an uninterrupted supply for at least a month, while “additional purchases” are being finalized.
This comes amid concerns about shipments through the Strait of Hormuz, a major route for LPG imports.
The ministry rejected the speculation, saying: “The claim that Papua New Guinea is being promoted because it is running out of LPG is misleading information. LPG supplies are safe.”
The ministry rejected speculation linking the expansion of natural gas pipelines to a shortage of LPG. The ministry explained: “The claim that Papua New Guinea is being pressured because it is running out of LPG is misleading information. LPG supplies are safe.”
“There is no shortage anywhere in the country.”
The government confirmed that there is no shortage of petrol, diesel or LPG, and that all retail outlets are operating normally.
Earlier, state-run oil companies such as Hindustan Petroleum, Indian Oil Corporation and Bharat Petroleum Corporation issued separate statements saying they had sufficient stocks and refuted allegations of shortages.
“All over one million retail fuel outlets across the country are open… and no outlet has been asked to ration supplies,” the government said.
“There is no shortage of petrol, diesel or LPG anywhere in the country,” she said, adding that the supply situation was “completely safe and under control.”
To address isolated issues faced by petrol pump operators, especially in small towns, credit limits have been increased to more than three days from the previous one-day cycle to facilitate fuel withdrawal.
The government refuses to panic
The ministry described panic buying as limited to “isolated cases” resulting from misleading content on social media.
She urged citizens not to be “misled by a malicious and deliberately orchestrated disinformation campaign” and warned of action against those spreading false claims.
“Any representation that India’s reserves are depleted or insufficient should be rejected with the contempt it deserves,” the statement said.
In contrast to India’s stance with many countries facing fuel rationing and supply restrictions, the government said there was no need for such steps domestically.
“India does not feel the need for any such measures,” she added, stressing that nearly two months of confirmed supplies are available “regardless of what happens globally.”
