India has adequate petroleum, gas and fertiliser stocks, with no shortage of any petroleum product, the Informal Group of Ministers on West Asia was informed during a meeting held in New Delhi on Monday, 11 May, according to an official release.
The meeting, chaired by Defence Minister Rajnath Singh at Kartavya Bhawan-2, reviewed the latest developments in the West Asia conflict and assessed India’s preparedness to minimise its impact on people, energy supplies, essential commodities and trade routes.
According to the release, India has 60 days of crude oil, 60 days of natural gas and 45 days of LPG rolling stock. The country’s foreign exchange reserves stand at $703 billion.
The IGoM was informed that the country is secure and there is no shortage of any petroleum product.
India is the world’s third largest oil refiner and fourth largest exporter of petroleum products, exporting to more than 150 countries, while also meeting domestic demand in full.
The review came against the backdrop of high international crude prices and supply-chain risks linked to the West Asia conflict.
The statement said fuel conservation could help ease the burden caused by elevated international crude prices.
India is among the few countries where petroleum prices have remained steady during the period of global volatility, even after more than 70 days since the conflict began.
In many countries, prices have increased by 30 to 70%.
The release said India’s oil marketing companies have absorbed losses of close to ₹1,000 crore a day, with under-recoveries running to nearly ₹2 lakh crore in Q1 2026, so that the burden of global prices is not passed on to Indian citizens.
The ministers were also informed that there is a surplus amount of essential commodities for people and that present conservation measures are intended for long-run capacity building if the crisis prolongs.
The release said supply management has been good and people need not panic or resort to over-purchase of fuel and other products.
Rajnath Singh directed officials to take concrete steps to implement Prime Minister Narendra Modi’s appeal at the ground level.
On 10 May, the Prime Minister had urged people to reduce petrol and diesel consumption by using metro and public transport, opting for car pooling, avoiding unnecessary foreign travel, choosing domestic tourism and celebrations within India, and avoiding non-essential gold purchases for a year.
The Prime Minister had also urged farmers to reduce chemical fertiliser usage by 50%, move towards natural farming practices, protect soil health, reduce import dependence and adopt solar-powered irrigation pumps instead of diesel pumps in agriculture.
“Ministries and States must identify, in a coordinated manner, measures to institutionalise fuel efficiency, public awareness, and responsible consumption behavior,” Singh said.
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