India says oil, gas and LPG supplies comfortable amid global market monitoring

Union Petroleum Minister Hardeep Singh Puri told reporters that India’s crude oil, natural gas and LPG stocks are sufficient for more than 60 days, with LPG storage covering 75‑80 days and domestic production raised to 54,000 MT per day. He noted that Indian fuel prices fell 3.1 % between May 2022 and May 2026 thanks to three cuts in central excise duty, while prices rose sharply in many other countries. Puri also mentioned plans to expand ethanol‑blended petrol (E85) pumps across the NCR.

Petroleum Minister of State Suresh Gopi said any future revision of petrol, diesel or LPG prices will depend on the stability of global crude supplies. He highlighted that the Centre is closely tracking global oil markets, especially developments around the Iran‑U.S. conflict and the potential reopening of the Strait of Hormuz. India continues to diversify imports, sourcing oil from Venezuela, Nigeria, Angola and increasing purchases of Russian crude, while public oil companies absorb daily losses of about ₹600‑₹750 crore to shield consumers.