New Delhi: Amid rising tensions in West Asia and concerns related to the Strait of Hormuz, the Indian government has shared a major update regarding the country’s fuel supply. Officials said that India’s energy supply remains secure for now, and there is no immediate shortage of petrol, diesel, or LPG.
Sujata Sharma, Joint Secretary at the Ministry of Petroleum and Natural Gas, said that India consumes around 5.5 million barrels of crude oil every day. She assured that the country’s oil supply system is currently stable.
Crude Oil Imports Diversified
The government also explained that India has diversified its crude oil import sources. Around 70 percent of India’s crude oil imports come from routes other than the Strait of Hormuz.
Oil Marketing Companies (OMCs) have ensured crude oil supply from multiple countries. This diversification helps India reduce dependence on any single route and strengthens the country’s energy security.
Natural Gas And LNG Supply Status
India’s daily natural gas consumption is around 189 MMSCMD, out of which 97 MMSCMD comes from domestic production. However, current global conditions have affected about 47 MMSCMD of gas consumption.
To improve the situation, the government said that two LNG cargo shipments are already on their way to India, and two more cargo shipments are expected soon. These shipments are likely to improve the availability of natural gas in the country.
LPG Supply And Price Monitoring
India imports around 60 percent of its LPG requirement, and nearly 90 percent of that comes through the Strait of Hormuz route. Despite this dependence, the government has increased domestic LPG production by 25 percent to strengthen supply.
LPG distribution is being prioritised for households, hospitals, and educational institutions. A special monitoring panel has also been created to ensure transparent gas supply to sectors like hotels and restaurants.
The government added that it is absorbing a large part of the LPG price increase. Without this support, LPG prices in India could have risen further. Saudi Contract Prices (CP) for LPG have increased by about 41 percent since July 2023, but LPG in India remains cheaper than in many countries.
Warning Against Panic Booking
Officials said there have been reports of panic booking and hoarding of LPG cylinders in some areas. The government has advised people not to panic.
The normal delivery time for an LPG cylinder is around 2.5 days after booking, and efforts are being made to maintain this timeline. Distributors are also clearing pending orders quickly.
Safety Of Indian Ships And Citizens
The Ministry of External Affairs said it is closely monitoring the situation in the region. At present, 28 Indian-flagged ships are operating in sea routes, including 24 near the Strait of Hormuz. These ships have 677 Indian sailors onboard.
The government is also ensuring the safety of Indians living in Gulf countries, where around 1 crore Indian expatriates reside. Control rooms have been set up for assistance.
Steps To Prevent Hoarding
The Ministry of Information and Broadcasting has directed state governments to prevent hoarding and black marketing of LPG cylinders. States have also been asked to appoint spokespersons to regularly update the public through local media.
