Synopsis: The Indian government says fuel supply are still stable and more than 3,200 Indian seafarers have been repatriated safely, even with the ongoing crisis in West Asia. Officials keep watching energy security, maritime operations, and the wellbeing of Indian nationals while also asking citizens not to fall into panic buying.
India’s fuel supplies keep on staying steady even with the ongoing crisis in West Asia, but the government has ramped up its work, to ensure energy security and safeguard Indian citizens who are working in the Gulf. In an inter-ministerial briefing in New Delhi, officials said that over 3,217 Indian seafarers have so far been safely brought back from the Gulf as geopolitical tensions keep rising, and this is also influencing maritime routes and global energy markets.
The Ministry of Petroleum and Natural Gas said there are adequate stocks of petrol, diesel, LPG, PNG, and CNG spread across the country, and it urged citizens not to do panic buying. Officials also noted that over 1.72 crore LPG cylinders were delivered throughout the nation in just four days, and at the same time, domestic LPG production has been ramped up to match household needs. The government furthermore strengthened its monitoring approach to stop hoarding and black marketing, with thousands of raids and inspections carried out at fuel stations, as well as at LPG distributorships.
Officials said India ’s energy management steps are being used to dampen the effect of climbing global crude oil prices, which is partly linked to unrest around the Strait of Hormuz, a major oil passageway in the world. With an eye toward easing pressure for buyers, the government just recently cut excise charges on petrol and diesel, and at the same time it reshaped export duties on particular petroleum products.
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Union Petroleum and Natural Gas Minister Hardeep Singh Puri again reassured people that India has enough reserves so it can manage any short-term supply disruptions. As per the ministry report, at present the country holds crude oil and LNG reserves for roughly 69 days, and LPG stocks for around 45 days.
The Ministry of Ports, Shipping and Waterways said that all Indian seafarers in the area are safe, and there weren’t any fresh incidents tied to Indian-flagged ships. Port activities in India are going on as usual, with no congestion there. Officials also pointed to the smooth, on time arrival of the LPG carrier SYMI which safely made it through the Strait of Hormuz carrying almost 19,965 metric tonnes of LPG for India, before it docked at Kandla port.
The Ministry of External Affairs said that Indian missions across West Asia are running round the clock helplines and coordinating closely with nearby authorities to make sure the safety and evacuation help of Indian nationals, if needed. Also flight connectivity from a few Gulf nations to India has been slowly getting better over the last weeks
Meanwhile, fertilizer supplies headed into the Kharif season were described as pretty comfortable too, with officials saying there was an adequate stock on hand and that retail fertilizer prices stayed put, despite the global market volatility.