Union Petroleum and Natural Gas Minister Hardeep Singh Puri on Saturday said there is no energy shortage in the country, stressing that supplies of crude oil, LPG and natural gas remain comfortable despite concerns arising from the Iran conflict.Speaking to reporters in Ludhiana, Puri said India has sufficient reserves to meet energy requirements and has reduced its dependence on LPG imports by enhancing domestic production, PTI reported.In response to a question about fuel availability, he said: We have a stock of crude oil sufficient for more than 60 days, and we have a stock of natural gas sufficient for more than 60 days.Regarding LPG supplies, he said the situation is also comfortable.For example, if 80,000 metric tons of LPG are consumed daily, the domestic production, which was earlier at 32,000 metric tons per day, has now risen to 54,000 metric tons, which helps reduce import dependence.He added that India currently has a stock of LPG sufficient for 75-80 days.“We have the maximum LPG stock, which is between 75 and 80 days of stock,” he said.Puri said that oil prices rose globally in the wake of the Iranian conflict, but India was able to keep domestic fuel prices under control.Sharing data for the period between May 2022 and May 2026, he said petrol prices rose by 70 per cent in Pakistan, 66 per cent in Sri Lanka, 47 per cent in France, 46 per cent in Italy, 36 per cent in Bangladesh and 35 per cent in the US.
“In India between May 2022 and May 2026, prices fell by 3.1 per cent. On the one hand, prices rose by 70-80 per cent in the world, but here (Prime Minister Narendra) Modi reduced prices by 3.1 per cent,” he said.Explaining the decline, Puri said fuel prices fell after the Center reduced customs duty on three occasions — in November 2021, May 2022, and again recently.“A few weeks ago, excise duty on petrol and diesel was reduced by Rs 10 per litre,” he said, adding that the move imposed an additional burden of Rs 1 lakh crore on the budget.“But the prime minister does not want people to face any financial burden,” he added.“When we raised petrol and diesel prices, how much did they increase? Fuel prices went up by Rs 7.60 per litre,” he said, adding that along with Japan, India recorded the smallest increase in fuel prices.Responding to a question about the 200 liters per day ceiling on diesel sales, Puri said the restriction was introduced to curb black marketing.Regarding the government’s move towards alternative fuels, he said that there are currently 47 E85 fuel pumps in the National Capital Region.According to the minister, the number will rise to 500 by December 2026 and expand to 5,000 by December 2027.Puri also said that LPG delivery holders are being encouraged to switch to piped natural gas wherever possible.Regarding the killing of three Indian sailors in a US military strike on a commercial ship in the Gulf of Oman, he said that India had lodged a strong protest.He added that India summoned the US Chargé d’Affairs twice, while External Affairs Minister S. Jaishankar the issue with Marco Rubio.