Key facts
- India has over 60 days of stock for crude oil and natural gas.
- India has 75-80 days of stock for LPG.
- Fuel prices in India dropped by 3.1% between May 2022 and May 2026.
- Fuel prices remained unchanged on June 13.
- Fuel prices saw cumulative hikes of nearly ₹7.50 per litre since mid-May.
- India has adequate fertiliser stocks for kharif and rabi seasons.
- The government is prepared for potential El Nino impacts.
- Subsidised rates for urea and DAP will continue.
- Global prices for fertilisers have increased.
India possesses a comfortable supply of energy resources, with Union Minister Hardeep Singh Puri reporting over 60 days of stock for crude oil and natural gas, and 75-80 days for LPG. This ample supply has contributed to stable fuel prices, which have dropped by 3.1% between May 2022 and May 2026, a stark contrast to price increases observed in other nations. On June 13, fuel prices in major Indian cities remained unchanged, providing consumers a respite following cumulative hikes of approximately ₹7.50 per litre since mid-May. Oil companies have maintained current rates despite global crude oil market volatility and geopolitical concerns that are impacting energy supplies worldwide.
Beyond energy, India also has adequate fertiliser stocks to meet the demands of the ongoing kharif and upcoming rabi agricultural seasons. Union Agriculture Minister Shivraj Singh Chouhan assured that the government is prepared to manage any potential impacts from El Nino. Subsidised rates for essential fertilisers like urea and diammonium phosphate (DAP) will continue, even as global prices for these commodities have increased. This preparedness aims to support the agricultural sector through potential climate challenges.