India currently has about 25 days of crude oil and refined petroleum stocks, government sources said on Tuesday, as authorities closely monitor the evolving geopolitical tensions in West Asia and assess their potential impact on the country’s energy supply.
Officials said the government is also exploring alternative sources for importing crude oil, LPG, and LNG to ensure that domestic supplies remain stable even if disruptions occur in the region.
India is heavily dependent on energy imports from the Middle East, making developments in the region particularly important for the country’s energy security.
Government sources also indicated that there are no immediate plans to raise the retail prices of petrol or diesel, despite the ongoing tensions in West Asia.
The assurance comes amid concerns that rising geopolitical risks and higher crude oil prices could translate into increased fuel costs for consumers.
Authorities said the situation is being closely monitored and necessary measures will be taken to protect domestic fuel availability.
Earlier on Monday, Union Minister for Petroleum and Natural Gas Hardeep Singh Puri reviewed the overall supply situation for crude oil, LPG, and other petroleum products with senior officials from the ministry and public sector companies.
The review meeting focused on assessing the potential impact of geopolitical tensions in West Asia on India’s energy supply chain and preparing contingency measures if needed.
The Ministry of Petroleum and Natural Gas said it is continuously tracking developments.
“We are continuously monitoring the evolving situation, and all necessary steps will be taken to ensure availability and affordability of major petroleum products in the country,” the Ministry of Petroleum and Natural Gas said in a post on X.
Separately, the Department of Commerce under the Ministry of Commerce and Industry held a stakeholder consultation to review the emerging geopolitical situation in West Asia and its possible impact on India’s export-import cargo flows.
The meeting was chaired by Special Secretary Suchindra Misra and Lav Agarwal, Director General of Foreign Trade.
Participants included representatives from logistics operators, shipping lines, and freight forwarders, as well as officials from the Central Board of Indirect Taxes and Customs, Reserve Bank of India, the petroleum ministry, the Ministry of Ports, Shipping and Waterways, and other trade-related agencies.
During the meeting, stakeholders presented assessments of the operational environment, including possible changes in shipping routes, transit times, vessel schedules, container availability, freight rates and insurance costs.
Officials also discussed potential implications for time-sensitive exports and broader trade flows.
“The discussions covered the need to maintain predictability in cargo movement, minimise avoidable delays, and ensure seamless documentation and payment processes for exporters and importers,” the Commerce Ministry said in a statement.
Authorities emphasised the importance of maintaining smooth logistics and trade operations amid the evolving geopolitical situation.
-With inputs from ANI
