Concerns over India’s fuel stock position emerged as tensions escalated in West Asia, with Iran and Israel along with ally United States engaging in a conflict, that led to the closure of the Strait of Hormuz. Image for representation.
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India has sufficient stock of crude oil and that of energy products (that is, petrol and diesel) for the next twenty-five days each, cumulatively accounting for fifty days of sufficiency, sources in the government informed on Tuesday (March 3, 2026).
“We are in a reasonably comfortable position as far as crude oil is concerned,” the source informed, adding, “We have reserves of crude oil for twenty-five days, alongside energy products of twenty-five days as well.”
Essential to note, according to the source, the mentioned crude oil reserves do not include that from the emergency-earmarked Special Petroleum Reserves (SPR), in which case the sufficiency expands beyond 25 days.
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Concerns over India’s fuel stock position emerged as tensions escalated in West Asia, with Iran and Israel along with ally United States engaging in a conflict, that led to the closure of the Strait of Hormuz. The situation was further aggravated as Tehran’s strikes damaged energy infrastructure in Saudi Arabia and Qatar spiralling brent crude futures beyond the $80-per-barrel-mark on Tuesday (March 3, 2026).
The source added that about two-fifth of India’s crude supplies were routed through the Strait of Hormuz.
‘Comfortably placed with LPG, LNG’
The sources further said that India was also “comfortable” with respect to liquified natural gas (LNG) and liquified petroleum gas (LPG).
They informed that India is “comfortably placed” with its LNG supply for the next two-three weeks. Concerns over LNG arose after world’s largest LNG producer QatarEnergy ceased production following “military attacks” at its facilities.
“We are monitoring it, assessing how long the pause [in production] would be and are in touch with them,” they stated.
About LPG, the source informed that India had already stepped into the market some time back. This was after Aramco’s Juaymah terminal was structurally damaged late in February potentially risking exports from the terminal.
“We are already in the market [to diversify our overall LPG supplies],” they stated, adding, “There are large sources available [in the world]. Even though they may be in distant geographies, they are available.”
‘Not brought any decision that affects our well-being’
The source also confirmed, contrary to media reports, that it has not taken any sought cutting down on export of petroleum products. “We have not brought any decision that affects the paradigm,” they said.
Lastly, they also confirmed that New Delhi is scouting for “alternate suppliers for everything” as part of their larger objective of diversifying hydrocarbons procurement.
Separately, in a press statement, the Ministry of Petroleum and Natural Gas informed that it has established a twenty-four-by-seven control room to constantly monitor the supply and stock position of petroleum products across the country. “At present, the Government is reasonably comfortable in terms of stocks. Safeguarding the interests of Indian consumers remains the highest priority,” the statement read, adding, “Based on continuous monitoring, the Government is cautiously optimistic that phased measures can be taken, if required, to further mitigate the situation.”
Published – March 03, 2026 07:02 pm IST
