After PM Modi’s Fuel-Saving Appeal, Govt Issues Big Statement On Petrol, Diesel Supply

Amid rising global tensions and soaring crude oil prices, the government has assured citizens that there is no shortage of petrol, diesel, LPG or crude oil in the country. The clarification came a day after Prime Minister Narendra Modi urged people to save fuel and avoid unnecessary consumption to reduce pressure on India’s foreign exchange reserves. Officials said India currently holds sufficient energy reserves and remains capable of meeting domestic demand despite ongoing instability in West Asia and disruptions in global energy markets.

India Has Enough Fuel Stocks

During a briefing by the Inter-Ministerial Group (IGoM) on the West Asia situation, government officials stated that India’s fuel supply remains secure. Authorities said the country currently has crude oil reserves for 60 days, natural gas stocks for another 60 days and LPG reserves sufficient for 45 days.

The meeting was chaired by Defence Minister Rajnath Singh.

Officials also highlighted that India’s foreign exchange reserves remain at a comfortable USD 703 billion. The government said multiple measures had already been taken to minimise the impact of global conflict and volatile oil markets on domestic consumers.

India is currently the world’s third-largest oil refiner and the fourth-largest exporter of petroleum products, supplying fuel to more than 150 countries while continuing to meet domestic demand.

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What Is PM Modi’s Appeal

Prime Minister Modi had appealed to citizens on May 10 to use petrol and diesel responsibly, warning that fuel prices had become extremely expensive worldwide. The government later clarified that the appeal was aimed at reducing the financial burden caused by high international crude oil prices and preserving foreign exchange reserves.

According to officials, Indian oil marketing companies have absorbed massive losses to keep retail fuel prices stable despite global market volatility. The government claimed that daily losses of nearly Rs 1,000 crore were being borne to shield Indian consumers from rising international prices.

Authorities stressed that there is no reason for panic buying or rushing to petrol pumps. They also noted that India remains one of the few countries where petroleum prices have stayed relatively stable even after more than 70 days of ongoing global conflict and economic disruption.

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