India averts fuel crisis with diversified imports and swift diplomacy, former IOCL chair says

Former Indian Oil Corporation Ltd chairman B. Ashok told IANS that despite recent geopolitical tension in the Strait of Hormuz, India successfully avoided a major fuel and energy crisis. He credited a decade of strategic preparation, diversification of oil sources, expansion of refining capacity and rapid diplomatic engagement.

These measures limited the rise in fuel prices to about 7 percent and kept domestic LPG supplies uninterrupted. India raised non‑Hormuz crude imports to roughly 70 percent, expanding its supplier base from 27 countries a decade ago to 41 by 2026, and upgraded refineries to handle varied crude grades. The government cut excise duty on petrol and diesel by 10 rupees per litre, imposed export duties on private refiners and directed firms to absorb higher costs. LPG production was boosted by about 50 percent, and control orders ensured priority for household consumption, achieving near‑universal LPG coverage.