No shortage of petrol diesel due to Iran war:India’s 400 billion liters of oil inventory is enough for 8 weeks consumption, says govt report

India will not face a shortage of crude oil due to the US-Israel and Iran war. India currently has a stock of more than 25 crore barrels (approximately 4,000 crore liters) of crude oil and refined petroleum products. According to the government report, this backup is sufficient enough that even if the supply completely stops, the country’s entire supply chain can easily run for 7 to 8 weeks. This means there is no tension about shortage of petrol-diesel and other petroleum products in the coming days. This report dismisses claims which stated that India has only 25 days of reserve left. The government has clarified that India’s energy security is no longer dependent on any single route or country. Reach expanded from 27 to 40 countries in 10 years
The report states that India’s energy purchases are entirely based on ‘national interest’. Over the last 10 years, India has significantly expanded its oil sourcing network. A decade ago, India purchased oil from only 27 countries, which has now increased to 40 countries. Despite global tensions, India has found new routes for its needs. Reduced dependence on Hormuz
The ‘Strait of Hormuz’, one of the world’s most sensitive sea routes, is often a cause for concern, but India has changed its strategy. Now only 40% of India’s crude oil comes through this route. The remaining 60% oil comes from alternative routes like Russia, West Africa, America and Central Asia. According to the report, gone are the days when India’s energy security depended on a single sea route. India can purchase crude oil from Russia
The US Treasury Department has given Indian refineries a 30-day special license. This license will be valid until April 3rd. Due to this, there is no possibility of crude oil shortage in India. Additionally, the crisis of rising petrol-diesel prices has been temporarily resolved. Prices stable for 4 years: 55% increase in Pakistan and 22% in Germany
According to figures from the Petroleum Planning and Analysis Cell (PPAC), petrol-diesel prices have remained stable in India for the last four years. Between February 2022 and February 2026, petrol prices in Delhi saw a marginal decline of 0.67%. In contrast, during the same period, petrol became 55% more expensive in Pakistan and 22% more expensive in Germany. Government companies bore burden of ₹64,500 crore
Government oil companies have incurred heavy losses to protect the common people from inflation. According to the report, public sector companies absorbed losses of ₹24,500 crore on petrol and diesel and about ₹40,000 crore on LPG to prevent retail prices from rising. The government claims that not a single petrol pump in the country has gone dry in the last 12 years. Domestic Cylinder Price Increased by ₹60
The government has increased domestic gas cylinder price by ₹60. In Delhi, 14.2 kg LPG gas is now available for ₹913. Earlier it was ₹853. Meanwhile, the 19 kg commercial cylinder has been increased by ₹115. It is now available for ₹1,883. The increased prices have been effective from March 7.