New Delhi, Mar 27: India has enough petrol, diesel and LPG stocks to last at least two months with normal delivery cycles, the government said on Friday, as it ruled out imposing any lockdown in view of energy supply disruptions caused by the war in West Asia.
India has about 60 days of oil stock cover and has arranged one full month of LPG supply, a government official said, adding that there is no shortage of petrol, diesel, or LPG.
“There is no situation like lockdown. It is not even under consideration,” Sujata Sharma, Joint Secretary in the Ministry of Petroleum and Natural Gas, said at a media briefing on the situation arising out of war in West Asia.
She said panic buying and long queues at petrol pumps and LPG distributors in parts have been triggered by misinformation and rumours.
“There is no crisis or shortage,” she said. “We have a sufficient amount of crude oil (raw material to make fuels like petrol and diesel). Our stocks of petrol and diesel are sufficient, and LPG supplies have been ensured.”
All petrol pumps across the country are adequately stocked and operating normally, with no rationing of petrol or diesel.
Oil Minister Hardeep Singh Puri, in a post on X, said while the global situation remains in flux, “all necessary steps are being taken to ensure uninterrupted availability of fuel, energy, and other critical supplies for our citizens”.
“We are fully prepared to handle emerging challenges,” he said.
“Rumours of a lockdown in India are completely false. Let me state this clearly, there is no such proposal under consideration by the Government of India.”
India, he said, has consistently demonstrated resilience in the face of global uncertainties, and the government will continue to act in a timely, proactive, and coordinated manner.
“In such times, it is important that we remain calm, responsible, and united. Attempts to spread rumours and create panic in such a situation are irresponsible and harmful,” he added.
India relies on imports to meet 88 per cent of its crude oil needs, half of its natural gas requirement and 60 per cent of its LPG demand. Half of the crude oil, a third of the gas and 85-90 per cent of LPG came from the Gulf countries through the Strait of Hormuz. The war has effectively shut the strait, leaving importers scrambling for supplies.
India, the world’s third-largest oil-importing and consuming country, has managed to replenish the crude oil volumes lost in the Strait through sourcing from West Africa, Latin America and the US. Liquefied natural gas (LNG) is being sourced from Australia and the US to make up for the deficit, while LPG has been contracted from the United States, Russia, and Australia. Also, domestic production of LPG has been raised by 40 per cent by diverting streams used in petrochemicals.
Sharma said the availability is adequate, which has given comfort in raising the allocation of commercial LPG to 70 per cent of the pre-crisis level.
After the crisis, LPG supplies were prioritised for domestic household users, and those for commercial establishments, such as hotels and restaurants, were cut to nil. Commercial supplies were restored to 20 per cent of the requirement and later to 50 per cent while encouraging the users to switch to alternate piped natural gas, whose supply has no such issues.
The allocation has now been raised to 70 per cent with priority being given to key industries, such as steel, automobiles and textiles, she said.
To protect consumers from surging global oil prices, the government cut excise duty on petrol and diesel by Rs 10 per litre, while imposing export levies of Rs 21.5 per litre on diesel and Rs 29.5 per litre on aviation turbine fuel (ATF) to boost domestic availability.
The government have also mandated refiners to divert 50 per cent of petrol and 30 per cent of diesel exports to the domestic market, Sharma said.
She said panic buying triggered by rumours led to temporary spikes in sales, but stressed that supplies remain adequate and retail outlets are operating normally.
Natural gas supply to households and transport remains fully protected, while industrial supply is being maintained at about 80 per cent of usual levels, with accelerated expansion of city gas infrastructure underway.
The government has stepped up enforcement against hoarding and black marketing, conducting more than 3,000 raids and seizing over 1,500 LPG cylinders, while urging states to intensify monitoring and public communication.
She advised citizens to avoid panic purchases and rely on official information, while encouraging the use of alternative fuels such as piped natural gas and electric cooking solutions.–(PTI)
