"Oil companies have already topped their tanks that are sufficient to meet country's two months requirement. Further, forward purchase contracts for about two months requirements have been placed with countries outside the conflict zone," Petroleum Minister Ram Naik, who completed 25 years in public office on Tuesday, told reporters.

India consumes close to 10 million tonnes of petroleum products every month, while its domestic production is stagnant at less than 3 million tonnes a month.

Declining to name the countries India would be sourcing crude oil from, he said, "We have put in place a contingency plan to meet all eventualities."

While currently crude oil inventory is at 23 days (including 11 days of stocks in transit), the total stockpile of petrol is for 53 days, diesel 43 days, kerosene 51 days, LPG 19 days and ATF 88 days.

Naik said the possibility of war in Iraq, strike by oil workers in Venezula and winter demand by western countries had contributed to the surge in international crude oil prices, which has breached the $36-a-barrel mark.

The unprecedented rise in crude oil prices has led to Rs two per litre increase in petrol and diesel prices since January. State-owned oil firms were "advised" by the government to defer another hike of at least Re one per litre on February 15 till the Budget as it may contain fiscal measures like duty reduction to cushion the impact of volatality in international prices.

Oil firms have stock-piled 88 days' requirement of aviation turbine fuel to meet any contingency. Stock of petrol and diesel are enough to meet the country's requirement for 33 days while kerosene stocks are sufficient for 29 days, official sources said.

Processing of crude stock would provide for additional product coverage of 39 days for petrol, 30 days for diesel and 27 days for kerosene, they added.

Oil firms have resorted to heavy imports of LPG to take the total inventory to 15 days by the end of the month from the current seven days.