New Delhi, May The government on Monday assured that there is no shortage of petroleum products in the country despite the ongoing West Asia crisis, stating that India currently holds around 60 days of crude oil and natural gas stocks, along with 45 days of LPG rolling reserves.
The update came after the 5th meeting of the Informal Group of Ministers (IGoM) on West Asia, chaired by Defence Minister Rajnath Singh, which reviewed the evolving geopolitical situation and its potential impact on domestic supply.
India, the world’s third-largest oil refiner and fourth-largest exporter of petroleum products, continues to meet domestic demand fully while exporting to over 150 countries.
On fertilisers, the government said the requirement for the kharif 2026 season is estimated at 390.54 lakh metric tonnes (LMT), with current availability at 199.65 LMT — over 51 per cent of the requirement, significantly higher than the usual 33 per cent level.
While supply remains stable, the government acknowledged the financial strain caused by elevated global crude prices. Oil marketing companies are absorbing losses of nearly ₹1,000 crore per day, with under-recoveries nearing ₹2 lakh crore in the first quarter of 2026 to shield consumers from price hikes.
Prime Minister Narendra Modi has urged citizens to adopt fuel-saving measures such as using public transport, carpooling, and reducing non-essential consumption to ease pressure on foreign exchange reserves.
The government reiterated that there is no need for panic buying, emphasising that supply chains remain robust and essential commodities are adequately stocked.
