Amid rising geopolitical tensions in West Asia, government sources sought to reassure citizens that India has adequate crude oil and fuel supplies and that there is “no need to panic or hoard.” Officials said India currently holds roughly 25 days’ worth of stocks of crude oil and petroleum products, including petrol and diesel, while LPG inventories are sufficient for about 25–30 days, providing a buffer against short-term supply shocks.
Sources stressed that around 40% of India’s oil imports transit the Strait of Hormuz, but the remaining 60% arrives via other sea lanes and supplier geographies, reducing dependence on a single chokepoint. The Hormuz waterway, between Iran and Oman, is a key global energy corridor that handles nearly a fifth of world oil trade; disruptions there typically trigger volatility in crude prices.
Officials said India’s import basket is geographically diversified, with supplies coming from the Americas, Africa and Russia — suppliers that do not always rely on Hormuz for shipment. Government sources also noted that alternative shipping routes, such as the longer passage around the Cape of Good Hope, remain available if Gulf transit is affected. While such detours raise transit time and freight costs, contingency plans are in place to manage logistics challenges.
Beyond commercial inventories held by oil marketing companies, India maintains strategic petroleum reserves to cushion temporary supply interruptions. Energy planners are reportedly monitoring developments closely and coordinating with refiners and marketing firms. The government reiterated that energy-security mechanisms are functioning as designed and that there is no immediate threat to fuel availability. Citizens were urged to avoid panic buying or hoarding of LPG cylinders and petroleum products.
Original Source: https://www.firstpost.com/business/india-has-25-days-crude-fuel-stocks-govt-says-no-need-panic-amid-strait-hormuz-tensions-13985914.html
Category: India
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Publish Date: 2026-03-03 17:28:00
