India Has 25 Days Of Oil Reserves; No Immediate Petrol, Diesel Price Hike Planned Amid Strait Of Hormuz Crisis

India currently has enough crude oil and refined fuel stocks to last around 25 days, government sources said on Tuesday, even as global tensions push oil prices higher. Officials also clarified that there is no immediate proposal to increase petrol and diesel prices.

The assurance comes amid escalating hostilities in the Middle East, particularly around the strategically vital Strait of Hormuz, a key global oil transit route.

Iran’s Islamic Revolutionary Guard Corps (IRGC) reportedly declared that the Strait of Hormuz is “closed” for shipping and warned that vessels attempting to cross could face attacks. The announcement marks a significant escalation in tensions involving Iran, Israel and the United States.

The United States and Israel have expanded air operations against Iran, while Israel has also conducted strikes in Lebanon. In retaliation, Iran reportedly targeted energy infrastructure in Gulf nations and struck tankers transiting the waterway.

As a result, several shipping companies are avoiding the narrow passage, and insurers have withdrawn coverage for vessels operating in the area, significantly increasing transportation risks and costs.

Global crude prices climbed for the third consecutive session on Tuesday amid fears of supply disruptions from the Middle East — one of the world’s most critical oil-producing regions.

Brent crude was trading at $79.44 per barrel at 0400 GMT, up 2.2%, after touching $82.37 on Monday — its highest level since January 2025. Meanwhile, US West Texas Intermediate (WTI) crude rose 1.6% to $72.40 per barrel, after hitting its highest level since June 2025 in the previous session.

Freight and insurance costs for oil and gas shipments have also surged as companies reassess geopolitical risks.

The government has maintained that India’s energy supplies remain stable and closely monitored. Petroleum and Natural Gas Minister Hardeep Singh Puri said the country is well-prepared to manage short-term disruptions arising from geopolitical developments.

India is currently the world’s third-largest crude oil importer, fourth-largest refiner, and fifth-largest exporter of petroleum products. Officials noted that the country maintains adequate stocks of crude oil and key fuels such as petrol, diesel and aviation turbine fuel (ATF).

Over recent years, India has diversified its crude sourcing strategy to reduce dependence on any single route, including the Strait of Hormuz. Alternative supply channels have been developed to strengthen energy security.

The Ministry has also set up a 24x7 control room to continuously monitor fuel supply and inventory levels nationwide. At present, officials described the overall stock position as “reasonably comfortable.”

Authorities stressed that consumer interests remain a priority and that the situation is under close watch. For now, consumers are unlikely to see any change in petrol and diesel prices, though future decisions will depend on how the situation in the Strait of Hormuz evolves.