NEW DELHI,12 MAY2026 : Minister of Petroleum and Natural Gas Hardeep Singh Puri on Tuesday said India has not increased fuel prices in the last four years and has sufficient stocks of crude oil, LNG and LPG despite the ongoing disruptions around the Strait of Hormuz.
Speaking on the sidelines of the CII Annual Business Summit 2026 in New Delhi, Puri said India remained in a stable position even as several countries were facing shortages and rising energy prices due to the continued disruptions around the Strait of Hormuz.
“In the last four years, there has been no increase in prices. Today, we are in a situation where unlike other countries in the world, which have had to either face severe problems in terms of availability and supply, or where prices have gone up 50-60 per cent,” Puri said.
The minister said the uncertainty around supply disruptions due to the closure of the Strait of Hormuz began on February 28 and had entered its 75th day, but India had converted the challenge into an opportunity by boosting domestic LPG production.
“When this crisis began, there were some concerns, but we converted the challenge into an opportunity. We have ramped up our domestic production of LPG, which used to be 36,000 metric tons per day. We have now taken it up to 54,000 metric tons per day,” he said.
Puri said India currently has more than adequate reserves of key energy supplies, including 60 days of crude oil stocks, 60 days of LNG and 45 days of LPG, ensuring uninterrupted supply across the country.
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