Key facts
- India has a comfortable energy supply with sufficient stock for crude oil, natural gas, and LPG.
- Fuel prices in India have decreased by 3.1% between May 2022 and May 2026.
- This contrasts with significant fuel price increases in several other countries during the same period.
- Future fuel price reviews will consider crude oil supply availability.
Union Minister Hardeep Singh Puri stated that India's energy supply is comfortable, with sufficient stock for crude oil, natural gas, and LPG. India holds over 60 days of stock for crude oil and natural gas, and 75-80 days for LPG. Fuel prices in India have decreased by 3.1% from May 2022 to May 2026, a stark contrast to significant price hikes observed in Pakistan, Sri Lanka, France, Italy, Bangladesh, and the US during the same period.
Minister of State for Petroleum and Natural Gas Suresh Gopi indicated that fuel prices would be reviewed based on the availability of crude oil supplies. When questioned by reporters, Gopi stated that the situation would be assessed based on crude oil supplies, referencing Minister Hardeep Singh Puri.