India’s 10‑Day Oil Reserve Buffer Highlights Hormuz Supply Risk

India imports roughly 88 % of its crude oil, about 5 million barrels per day, most of which transits the Strait of Hormuz. Disruptions in this narrow chokepoint have already removed more than a billion barrels of global supply and could sharply raise Indian fuel costs, widening the current‑account deficit and adding inflationary pressure.

The country’s strategic petroleum reserves (SPR) – stored in underground caverns at Visakhapatnam, Mangaluru and Padur – hold about 5.33 million tonnes (≈ 39 million barrels), enough for only 9‑10 days of consumption. By contrast, Japan and South Korea maintain reserves that cover more than 200 days, giving them a far larger cushion against geopolitical shocks.

A report by the Council on Energy, Environment and Water warns that the limited SPR leaves India vulnerable to supply shocks. It urges expanding storage capacity, diversifying crude sources, and accelerating a transition to gas, electricity and renewable technologies. Planned new facilities at Chandikhol and Padur Phase‑II could roughly double the emergency reserve capacity in coming years, helping to blunt future energy‑price spikes and their ripple effects on transport, industry, agriculture and the broader economy.