No shortage of petroleum products; India has 60 days of crude oil, 60 days of natural gas & 45 days of LPG rolling stock: IGoM

India has 60 days of crude oil, 60 days of Natural Gas and 45 days of LPG rolling stock. This was informed in a meeting of the Informal Group of Ministers (IGoM) held today under the chairmanship of Defence Minister Rajnath Singh.

The IGoM was informed that the country is secure, and there is no shortage of any petroleum product, even as most other nations have taken emergency measures to dramatically reduce domestic consumption.

The 5th meeting of IGoM was held today to review the existing risks to energy supply chains and domestic availability of essential commodities in the wake of the conflict in West Asia.

The meeting took stock of the latest developments in the conflict, and discussed ways to bolster India’s readiness to ensure its minimum effect on the people.

The foreign exchange reserves stand at a comfortable $703 billion. India is the world’s third largest oil refiner and fourth largest exporter of petroleum products, exporting to over 150 countries and is meeting domestic demand in full. But there is a huge cost being borne by the nation as international crude prices are continuing at very high levels. Fuel conservation can ease this burden.

Prime Minister Narendra Modi’s appeal to the people for collective participation to help the country deal with global economic disruptions, supply chain challenges and rising prices caused by international conflicts has, thus, emphasised prudence in usage of petroleum products and reducing wasteful consumption, so that the fiscal burden on the nation is reduced in the present and into the future.

India is among the few countries where petroleum prices have held steady through this period of global volatility even after more than 70 days since the conflict started. In many nations, prices have increased by 30 to 70 per cent. However, India’s oil marketing companies have absorbed losses of close to Rs 1,000 crore a day, with under-recoveries running to nearly Rs 2 lakh crore in Q1 ’26 so that the burden of global astronomical prices is not passed to the Indian citizens. There is no reason for anxiety, and no reason for any citizens to rush to retail outlets, it was informed.

The Defence Minister directed the officials to take concrete steps to implement the Prime Minister’s appeal at the ground level. The Prime Minister, on May 10, 2026, exhorted the people to reduce petrol and diesel consumption by using metros & public transport, opting to car pooling; help conserve foreign exchange reserves by refraining from unnecessary foreign travel, choosing domestic tourism & celebrations within India, and avoiding non-essential gold purchases for a year.

The PM had urged the farmers to reduce chemical fertiliser usage by 50 per cent, move towards natural farming practices, help protect soil health & reduce import dependence, and encourage wider adoption of solar-powered irrigation pumps instead of diesel pumps in agriculture.

“Ministries and States must identify, in a coordinated manner, measures to institutionalise fuel efficiency, public awareness, and responsible consumption behavior,” said Rajnath Singh.

He urged the people to remain calm and avoid any kind of panic as all concrete steps are being taken to prevent shortages or disruptions in supply chains.