How long can India withstand, even if Oil and LPG supplies stop? Govt answers

India has adequate energy reserves, and there is no shortage of petroleum products despite the ongoing conflict in West Asia, the government said on Monday after a high-level meeting chaired by Defence Minister Rajnath Singh, while stressing that fuel conservation measures are aimed at long-term preparedness and not because of any immediate crisis.

Chairing the fifth meeting of the Informal Group of Ministers (IGoM) on West Asia at Kartavya Bhawan in the national capital, Singh reviewed the evolving geopolitical situation and India’s preparedness to minimise any impact on citizens and the economy.

According to officials briefed during the meeting, India currently has around 60 days of crude oil reserves, 60 days of natural gas availability and 45 days of LPG rolling stock, ensuring sufficient supplies even as several countries have adopted emergency consumption reduction measures amid continuing global uncertainty.

The government also highlighted that India’s foreign exchange reserves remain strong at about USD 703 billion.

Senior ministers, including Union Petroleum Minister Hardeep Singh Puri, Health and Chemicals and Fertilisers Minister Jagat Prakash Nadda, Railways and IT Minister Ashwini Vaishnaw, Parliamentary Affairs Minister Kiren Rijiju and Shipping Minister Sarbananda Sonowal, attended the meeting.

Oil Companies Absorbing Heavy Losses to Shield Consumers

Officials informed the ministers that India, the world’s third-largest oil refiner and fourth-largest exporter of petroleum products, continues to meet domestic demand fully while exporting fuel to more than 150 countries.

However, the government acknowledged that international crude oil prices remain at elevated levels due to the prolonged conflict, resulting in a heavy financial burden on public sector oil marketing companies.

According to the briefing, oil companies are currently absorbing losses of nearly Rs 1,000 crore per day, with under-recoveries estimated at close to Rs 2 lakh crore in the first quarter of 2026, in order to shield consumers from steep fuel price hikes seen globally.

The government asserted that there was “no reason for anxiety” and urged citizens not to rush to fuel stations or indulge in panic buying.

“The present conservation is intended towards long-run capacity building if the crisis prolongs,” officials said, adding that supply management of fuel and essential commodities remains stable.

PM Modi Appeals for Responsible Consumption

The meeting also reviewed Prime Minister Narendra Modi’s recent appeal urging citizens to adopt responsible consumption practices in view of global economic disruptions and rising energy costs.

The Prime Minister had appealed to people to reduce petrol and diesel consumption by using public transport, metros and carpooling, avoid unnecessary foreign travel, prefer domestic tourism and limit non-essential gold purchases for a year.

He had also urged farmers to reduce chemical fertiliser usage by 50 per cent and move towards natural farming practices and solar-powered irrigation systems.

Singh directed ministries and states to implement the Prime Minister’s appeal at the ground level and institutionalise fuel efficiency measures and public awareness campaigns.

Govt Focused on Energy Security and Crisis Preparedness

In a post on X after the meeting, the Defence Minister appealed to citizens to remain calm and said the government was taking “all concrete steps” to ensure uninterrupted supplies and prevent disruptions in supply chains.

He said India’s immediate priorities were to ensure uninterrupted energy flows, maintain economic stability and secure maritime trade routes amid the volatile regional situation.

Singh also stressed the need to accelerate India’s transition towards renewable energy sources, diversify energy supplies and strengthen strategic reserves to improve long-term energy security.

“The West Asia situation should not be viewed merely as a stand-alone event,” he said, emphasising the importance of strategic crisis anticipation, early warning systems and coordinated government preparedness in an interconnected global environment.

MSME Relief Measures and Fertiliser Stocks Remain Strong

The ministers were also informed about measures announced to support industries and MSMEs affected by the global situation.

The Union Cabinet recently approved the Emergency Credit Line Guarantee Scheme (ECLGS) 5.0 with an additional credit flow target of Rs 2.55 lakh crore, aimed at providing liquidity support to MSMEs, non-MSMEs and the airline sector.

The government has also allowed force majeure-related relief in public procurement contracts, enabling extension of performance deadlines by two to four months from February 28, 2026.

On fertilisers, officials said availability remained “robust” with total stock levels at 199.65 lakh tonnes as on May 11, significantly higher than last year’s 178.58 lakh tonnes.

The government said the current fertiliser stock accounts for more than 51 per cent of the projected Kharif 2026 requirement, compared to the usual level of around 33 per cent, reflecting advance planning and efficient logistics management.