Summary of this article
1. Defence Minister Rajnath Singh assured no fuel shortage amid the West Asia crisis, with India holding 60 days of crude oil and natural gas reserves and 45 days of LPG stock.
2. Oil marketing companies are absorbing nearly Rs 1,000 crore daily in losses to protect citizens from rising international crude prices.
3. The government urged voluntary conservation following PM Modi's appeal, emphasising this reflects collective responsibility, not any resource inadequacy.
Defence Minister Rajnath Singh on Monday chaired the fifth meeting of the Informal Group of Ministers (IGoM) to review the impact of the ongoing West Asia conflict on India's energy security and assured citizens that the country faces no shortage of petroleum products.
According to a Ministry of Defence press release, India currently possesses 60 days of crude oil reserves, 60 days of natural gas stocks, and 45 days of LPG rolling stock, ensuring uninterrupted supply across the country. The IGoM was informed that India remains "secure" with no shortage of any petroleum product, even as many other nations have introduced emergency consumption controls. The country's foreign exchange reserves stand at a comfortable $703 billion, while India continues to meet domestic fuel demand in full despite global disruptions.
The government highlighted that India is among the few nations where petroleum prices have remained stable even after more than 70 days of conflict-driven international volatility. In many countries, prices have increased by 30 to 70 per cent. However, Indian Oil Marketing Companies (OMCs) are reportedly absorbing losses of nearly Rs 1,000 crore daily, with under-recoveries touching almost Rs 2 lakh crore in the first quarter of 2026 alone, to protect citizens from rising international crude prices. Officials noted that while there is no immediate shortage, the conservation push aims to ease this massive fiscal burden on the nation.
Singh's reassurance came a day after Prime Minister Narendra Modi appealed to citizens to adopt responsible fuel consumption habits. The Prime Minister urged people to reduce petrol and diesel use by opting for public transport and carpooling, avoid non-essential foreign travel for a year, and refrain from excessive gold purchases to help conserve foreign exchange reserves.
The government clarified that the PM's appeal was made in the "spirit of collective citizen participation" and does not reflect any inadequacy of resources. "There is a huge cost being borne by the nation as international crude prices are continuing at very high levels. Fuel conservation can ease this burden," the Defence Ministry release stated. Singh urged citizens to "remain calm and avoid any kind of panic," asserting that concrete steps are being taken to prevent shortages or disruptions in supply chains.
