Daijiworld Media Network - New Delhi

New Delhi, Jun 14: Amid rising global oil prices and escalating tensions in the Middle East, Union Petroleum and Natural Gas Minister Hardeep Singh Puri on Friday assured that India has adequate supplies of petrol, diesel, LPG, and jet fuel for the coming months.

Following a review meeting with senior officials and CMDs of Indian Oil, Bharat Petroleum, and Hindustan Petroleum, Puri said the country's energy needs are well-secured. “India’s energy strategy balances availability, affordability, and sustainability under PM Modi’s leadership,” he stated.

His assurance comes as Brent crude surged over 9% to cross $78 per barrel after Israel’s strike on Iranian nuclear and missile sites, raising fears of wider conflict in the oil-rich region. Although India doesn’t import oil from Iran, the tensions near the Strait of Hormuz—through which one-fifth of global oil passes—have added to global uncertainty.

India, Puri noted, has strengthened energy resilience through 23 operational refineries and strategic petroleum reserves. Storage facilities at Pudur (2.25 MMT), Visakhapatnam (1.33 MMT), Mangaluru (1.5 MMT), and an upcoming site in Chandikhol ensure emergency preparedness.

A report by Emkay Global said oil markets remain well supplied despite volatility, and any loss of Iranian crude can be absorbed. It also projected that India’s inflation will stay below the RBI’s estimate, averaging 3.3–3.4% in FY26, with no major downside for oil PSUs thanks to strong refining margins and stable demand.