India energy supply comfortable, says Hardeep Singh Puri; fuel prices down since 2022

Union Minister Hardeep Singh Puri said on Saturday that India faced no energy shortage. Puri told reporters in Ludhiana that supplies of crude oil, LPG and natural gas remained steady. Puri also said international oil prices increased after the Iran conflict. Puri added that India’s fuel supply position stayed "quite comfortable\".

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Puri said petrol prices moved very differently across countries from May 2022 to May 2026. Puri stated that rates in India fell by 3.1 per cent in that period. Puri compared this with steep rises in several other nations. Puri said this showed the impact of policy decisions on retail fuel costs.

Fuel prices in India: May 2022 to May 2026 comparison

Puri shared figures for petrol price changes from May 2022 to May 2026. Puri said petrol prices in Pakistan rose by 70 per cent and Sri Lanka by 66 per cent. France saw a 47 per cent rise and Italy 46 per cent. Bangladesh increased by 36 per cent and the US by 35 per cent. India recorded a 3.1 per cent drop.

\"On one hand, prices rose by 70-80 per cent in the world, but here Prime Minister Narendra Modi ji reduced prices by 3.1 per cent,\" Puri said. Puri then explained the components behind pump prices. Puri listed extraction cost, insurance, freight, margin, Centre’s excise duty and states’ VAT. Puri linked the fall to lower central excise duty.

Puri said fuel prices dropped after the Prime Minister reduced central excise duty three times. Puri listed November 2021, May 2022 and a recent cut. Puri said excise duty on petrol and diesel was reduced by Rs 10 a litre. Puri added that this created an extra budget burden of Rs 1 lakh crore.

Puri said the intent was to reduce pressure on households. Puri said, \"When we raised petrol and diesel prices, how much did it increase?\" Puri said prices rose by Rs 7.60 a litre. Puri added that, apart from Japan, India saw the smallest increase in fuel prices.

Fuel prices in India: diesel cap and anti-black marketing step

Asked about limiting diesel sales to 200 litres a day, Puri said the step aimed to stop black marketing. Puri did not link the cap to any shortage. Puri said the wider supply situation remained stable. Puri repeated that crude oil, LPG and natural gas availability stayed comfortable.

Fuel prices in India: crude oil, natural gas and LPG stocks

Puri said, \"We have a stock of crude oil for over 60 days, we have natural gas stock for over 60 days,\" Puri said. Puri also spoke about LPG availability. Puri said the LPG position was \"quite comfortable\". Puri added that India held \"75-80 days\" of LPG stock.

Puri gave an example to show rising domestic LPG production. Puri said daily LPG use could be around 80,000 metric tonne. Puri said India earlier produced 32,000 MT a day. Puri said this had risen to 54,000 MT. Puri said this reduced dependence on imported LPG.

Puri said LPG connection holders were being asked to move to piped gas. Puri linked this to better supply planning and lower import needs. Puri did not provide a timeline for the shift. Puri said the goal was to support stable energy access. Puri again cited the large LPG stock levels.

Fuel prices in India: E85 fuel pumps expansion plan

On E85 fuel, or 85 per cent ethanol-blended petrol, Puri gave rollout numbers. Puri said there were 47 E85 fuel pumps in the NCR. Puri said the count would reach 500 by December 2026. Puri said it would rise to 5,000 pumps by December 2027.

Fuel prices in India: protest over seafarers killed in US strike

On the deaths of three Indian seafarers in a US military strike, Puri said India protested strongly. Puri said India summoned the US Charge dAffaires twice. Puri said External Affairs Minister S Jaishankar also raised the issue. Puri said Jaishankar spoke with US Secretary of State Marco Rubio.

Puri’s comments combined fuel pricing data with updates on supply and policy actions. Puri said India had more than 60 days of crude and gas stocks. Puri also cited 75-80 days of LPG stock and higher domestic output. Puri maintained that, despite global volatility, India’s energy supplies remained comfortable.

With inputs from PTI