Govt Urges Public to Conserve Fuel Amid Rising Global Prices, Assures No Supply Crisis

The government on Monday urged citizens to conserve fuel, reiterating Prime Minister Narendra Modi's appeal for reduced petrol and diesel use amid escalating global oil prices triggered by tensions in the Strait of Hormuz. Sujata Sharma, joint secretary of the Ministry of Petroleum and Natural Gas, said the Prime Minister has called for greater use of public transport, carpooling, railways for freight, and electric vehicles to ease the nation's economic burden. "Let us all come together and make every possible effort to conserve energy in our daily lives," she stated.

Sharma emphasized that India's crude oil inventory remains well-maintained, refineries are operating at optimal levels, and there are no reports of dry-outs at retail outlets or LPG distributorships. Over the past three days, 1.26 crore LPG cylinders were delivered against 1.14 crore bookings, with commercial LPG sales exceeding 17,000 tonnes and Auto LPG sales surpassing 762 tonnes. Opesh Kumar Sharma, director at the Ministry of Ports, Shipping and Waterways, clarified that India pays no transit tax through the Strait of Hormuz, even as global prices rise.

State-owned oil marketing companies—Indian Oil Corporation, Bharat Petroleum, and Hindustan Petroleum—are facing combined daily under-recoveries of Rs 1,600–1,700 crore, amounting to over Rs 1 lakh crore in losses over 10 weeks, due to the gap between high import costs and stable domestic fuel prices. Despite this, retail petrol and diesel prices remain unchanged at Rs 94.77 and Rs 87.67 per litre respectively, near two-year lows. The government confirmed no relief package is currently planned for the companies.

Officials reiterated that fuel supply chains remain robust and assured continued monitoring of the situation. The Ministry of Petroleum will review energy management strategies in coordination with other agencies next week.