Synopsis: As tensions rise in the Middle East following US-Iran and Israel-Iran conflicts, Petroleum Minister Hardeep Singh Puri assures that India has ample oil supplies and diversified import sources to avoid disruption or a fuel price hike.
 "Fuel Price Hike in India? Hardeep Puri Says No Need to Panic Amid Middle East Tensions")
Amid heightened geopolitical tensions in the Middle East due to the ongoing Israel-Iran conflict and reports of US strikes on Iran’s nuclear sites, concerns over a possible surge in fuel prices in India have gained traction. However, Union Petroleum and Natural Gas Minister Hardeep Singh Puri has firmly stated that there is no immediate threat to fuel supply stability or domestic price hikes.
Speaking on Sunday, Puri emphasized that the Indian government has been closely monitoring the evolving situation in the Middle East. “We have diversified our energy import sources under Prime Minister Modi’s leadership. A significant portion of our oil now comes from countries other than those reliant on the Strait of Hormuz,” he said.
India, which imports around 85% of its crude oil needs, would typically be vulnerable to any disruptions in the Gulf. However, the strategic diversification of sources — especially increased imports from Russia and the United States — along with strategic petroleum reserves, have added critical resilience.
Puri highlighted that India’s 23 modern refineries, with a combined annual capacity of 257 million metric tonnes, are equipped to meet domestic demand. Additionally, strategic oil reserves in Pudur (2.25 MMT), Visakhapatnam (1.33 MMT), and Mangalore (1.5 MMT) — with a new one coming up in Chandikhol — provide a safety net to absorb price shocks or short-term supply disruptions.
While Iran’s location near the Strait of Hormuz, through which nearly 20 million barrels per day are transported, makes the region sensitive to disruptions, Puri noted that India has worked hard to minimize reliance on this chokepoint.
Shipping threats from Yemen’s Houthi rebels and potential supply disruptions from Saudi Arabia, UAE, Iraq, and Kuwait could still impact global oil prices, but India is prepared to act decisively to protect its economy and consumers.
“We will take all necessary steps to ensure uninterrupted fuel supply and price stability,” Puri reassured.
Disclaimer: This article is for informational purposes only and reflects the current statements and situations as of the time of writing. Actual fuel prices and geopolitical outcomes may change based on future developments.
