Concerns over India’s fuel stock position emerged as tensions escalated in West Asia, with Iran and Israel along with ally United States engaging in a conflict, that led to the closure of the Strait of Hormuz. Image for representation.
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India has sufficient stocks of crude oil and energy products (petrol and diesel) for the next 25 days each, cumulatively accounting for 50 days of sufficiency, sources in the government said on Tuesday (March 3, 2026).
“We are in a reasonably comfortable position as far as crude oil is concerned,” a source said, adding, “We have crude oil in reserve for 25 days, alongside energy products for 25 days as well.”
Essential to note, according to the source, the mentioned crude oil in reserve does not include that from the emergency-earmarked Special Petroleum Reserves (SPR), in which case the country’s crude oil sufficiency expands beyond 25 days.
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Concerns over India’s fuel stock position emerged as tensions escalated in West Asia, with Israel and the U.S. launching strikes on Iran, prompting retaliatory attacks by Tehran on Washington’s regional allies. The conflict led to the closure of the crucial Strait of Hormuz, a key route for global energy supplies. Tehran’s strikes also damaged energy infrastructure in Saudi Arabia and Qatar, sending Brent crude futures soaring past the $80-per-barrel mark on Tuesday (March 3, 2026).
The source added that about two-fifths of India’s crude supplies were routed through the Strait of Hormuz.
‘Comfortably placed with LPG, LNG’
The sources further said that India was also “comfortably placed” with respect to liquefied natural gas (LNG) and liquefied petroleum gas (LPG). They noted that India had sufficient LNG supplies for the next two to three weeks.
Concerns over LNG availability had risen after QatarEnergy, the world’s largest LNG producer, ceased production following “military attacks” on its facilities.
“We are monitoring it, assessing how long the pause [in production] would be and are in touch with them,” the sources said.
Regarding LPG, a source informed that India had already stepped into the market some time ago. This was after Aramco’s Juaymah terminal was structurally damaged in late February, potentially risking exports from the terminal.
“We are already in the market [to diversify our overall LPG supplies],” the official said, adding, “There are large sources available [in the world]. Even though they may be in distant geographies, they are available.”
‘Not brought any decision that affects our well-being’
The sources also confirmed that, contrary to media reports, the government has not undertaken any move to cut down on the export of petroleum products. “We have not brought any decision that affects the paradigm,” they said.
They added that New Delhi was scouting for “alternative suppliers for everything” as part of the larger objective of diversifying hydrocarbons procurement.
Separately, in a press statement, the Petroleum and Natural Gas Ministry informed that it had established a 24X7 control room to constantly monitor the supply and stock position of petroleum products across the country. “At present, the Government is reasonably comfortable in terms of stocks. Safeguarding the interests of Indian consumers remains the highest priority,” the Ministry said. “Based on continuous monitoring, the Government is cautiously optimistic that phased measures can be taken, if required, to further mitigate the situation,” it added.
Published – March 03, 2026 07:02 pm IST
