NEW DELHI, March 28, 2026 — Facing a surge in “panic buying” and viral misinformation, the Union Ministry of Petroleum and Natural Gas has issued a comprehensive status report on India’s energy security. The government confirmed that the nation is currently sitting on a 60-day crude oil reserve and has secured a full month of LPG (liquefied petroleum gas) supplies, dismissing rumors of an impending shortage as “mischievous and fabricated.”
The clarification comes as the conflict in West Asia enters its 29th day, sparking global concerns over the closure of the Strait of Hormuz—a critical artery for India’s energy imports.
The “60-Day” Safety Net
While social media posts suggested that India’s reserves were depleted to just a few days, the Ministry provided a detailed breakdown to restore public confidence:
- Total Capacity: India possesses a total stocking capacity of 74 days.
- Current Stock: The actual “stock cover” today stands at 60 days, which includes crude oil, refined products (petrol and diesel), and the strategic reserves stored in underground rock caverns.
- Future Supplies: Indian oil companies have already “tied up” and secured crude procurement for the next 60 days from over 41 global suppliers, effectively insulating the country from immediate market shocks.
LPG: Production Ramp-Up and Secured Cargoes
Addressing the long queues at LPG distributors, the government revealed that domestic refinery production has been ramped up by 40%, now meeting over 60% of the daily national requirement.
- En Route: Approximately 800,000 tonnes of LPG are currently in transit from the US, Russia, and Australia.
- Delivery Status: Oil Marketing Companies (OMCs) are successfully delivering over 5 million cylinders daily, despite a temporary spike in demand that saw orders jump to nearly 9 million last week.
The ₹1.5 Lakh Crore Fiscal Shield
To prevent a massive spike in retail prices, the Finance Ministry has notified a sharp cut in central excise duty. Effective immediately, the duty on petrol has been slashed by ₹10 (from ₹13 to ₹3 per litre), while the duty on diesel has been reduced to zero.
“The government had two choices: either increase prices drastically for citizens or bear the brunt on its own finances,” stated Petroleum Minister Hardeep Singh Puri. By choosing the latter, the government is absorbing a fiscal hit of over ₹1.5 lakh crore to ensure that OMCs can offset their massive “under-recoveries” without passing the cost to the consumer.
Cracking Down on Misinformation
The government has warned that strict action, including FIRs, will be taken against those spreading “unjustified panic.” Over 150 arrests have already been made in connection with hoarding and the spread of fake news regarding “fuel rationing.”
Officials emphasized that all 100,000+ retail outlets across India are operating normally. To ease the burden on petrol pump owners, the credit limit for lifting fuel has been extended from one day to three days, ensuring that stations in smaller towns remain fully stocked.
Bottom Line
India is positioning itself as an “oasis of energy security” in a volatile global market. While other nations consider rationing and odd-even restrictions, the Indian government’s strategy of aggressive procurement and massive tax cuts aims to keep the country moving without a price shock. For the average citizen, the message is clear: There is enough fuel; there is no need to rush
