India has no plans to ration fuel supplies despite ongoing disruptions in global energy markets, according to a top oil ministry official. The country has maintained adequate inventories of crude products and LPG while diversifying imports to manage supply risks.
India is sending a shipment of diesel and petrol to Sri Lanka to help alleviate the country's energy crisis amidst regional instability.
Sri Lanka's state-owned petroleum corporation announced fuel rationing for vehicles with effect from Friday, as an unprecedented economic crisis roils the country.
'PM Modi is trying to reduce the volume of fuel consumed instead of raising prices sharply.'
Fuel rationing was on Friday imposed in Karwadi and Bayana by the district authorities in a bid to check the movement of Gujjar protesters as their agitation entered the eighth day.
S&P Global Ratings projects India's economy to grow at 6.3 per cent even if crude oil prices average USD 130 per barrel in the current fiscal year, highlighting the nation's resilience amidst the West Asia crisis and strong commitment to fiscal consolidation.
India possesses two months of fuel stockpiles and faces no supply concerns despite global energy disruptions, according to Oil Minister Hardeep Singh Puri. However, state-run fuel retailers are incurring losses of up to Rs 1 lakh crore in a single quarter due to elevated crude prices and unchanged retail fuel prices, raising questions about the sustainability of these losses.
The Strait of Hormuz crisis is impacting lifestyles worldwide, from reduced gold purchases in India to energy conservation in Europe and Japan, as governments urge citizens to adapt to the global energy shock.
The Indian government has refuted claims of fuel shortages, asserting that the country possesses approximately 60 days of fuel stock cover and that all petrol pumps are adequately stocked and operating normally.
The government on Thursday restored liquefied petroleum gas (LPG) supplies to commercial consumers such as hotels, restaurants and other businesses to pre-crisis levels, and lifted sector-specific restrictions imposed during the recent West Asia conflict, in a sign that energy supply concerns are easing as global markets stabilise.
'There is no shortage of fuel whatsoever.' 'India is stock surplus as far as petrol and diesel are concerned.'
'At the first sign of real trouble, that money will move. There will be a run.'
The closure of the Strait of Hormuz has disrupted some 20 per cent of the global flows but even if it opens, damages to production facilities in the region will take time to repair, points out Sunita Narain.
S&P Global Ratings warns that a sustained rise in crude oil prices to $130 per barrel could significantly slow India's economic growth, weaken fiscal metrics, and strain corporate and banking sector performance, potentially reducing growth by up to 80 basis points.
Following through announcements with enforcement of measures is key, as a run through recent Indian economic history shows, points out A K Bhattacharya.
Moody's Ratings has downgraded India's growth forecast for financial year 2026-27 (FY27) to 6 per cent from 6.8 per cent, attributing the revision to weaker consumption and industrial activity, elevated energy prices, and rising input costs stemming from the West Asia conflict.
One Indian oil tanker successfully crossed the Strait of Hormuz, while others turned back after Iran signalled the waterway's closure, amidst rising tensions and disruptions to global energy flows.
India has raised concerns with Iran over the safety of merchant shipping after two vessels were fired upon in the Strait of Hormuz, prompting them to turn back.
India has denied making any payments to Iran to secure safe passage for its vessels through the Strait of Hormuz, following reports that Indian vessels were fired upon in the region.
Around one full month of supply is firmly arranged with additional procurement being continuously finalised, and oil companies are successfully delivering over 5 million cylinders every day.
India's plans to ration the consumption of liquefied natural gas (LNG) and liquefied petroleum gas (LPG) - in response to reduction in their import owing to war in West Asia - may fall short of what is needed to meet domestic needs.
'It would be similar to what happened during COVID-19.' 'They are not just losing income, but being pushed into distress.'
'We kept our bags packed, ready to jump into the sea. Many times, I felt it could be my last day.'
Responding to concerns raised by Leader of the Opposition Rahul Gandhi in the Lok Sabha, Petroleum Minister Hardeep Puri said it is the foremost priority of the government that the kitchens of over 33 crore families, especially the poor and the underprivileged, do not face any shortage of gas.
The cost of the war is being counted not in the corridors of power in Washington or Tehran, but in Firozabad's darkened furnace rooms, Howrah's idle casting sheds, and a barbershop in Kochi where the wait is suddenly, inexplicably, an hour long, notes Prem Panicker in his must read blog on the Iran War.
After being wrongly deported and labelled as Bangladeshis, migrant workers in West Bengal's Murshidabad are heading to the polls to reclaim their Indian identity and fight for their right to belong.
'The West Asia or the Gulf crisis has shown that what we develop as national infrastructure when things are not as bad as they could be, we forget to plan for adversities.'
Let us start with ourselves. If we can reduce our LPG consumption by half, the problem is solved. Reduce wastage. Alter eating styles. Diversify methods of food preparation, suggests Vice Admiral Biswajit Dasgupta (retd).
'The next two to three weeks will not be decided in Washington.' 'They will be decided in Tehran, in whatever calculation Iran makes about the costs of continued resistance against the costs of appearing to have yielded.'
'Why are the political leaders saying everything is normal?'
By all available indications, the White House drafted a face-saving note and handed it, ready-made, to Islamabad. Pakistani Prime Minister Shehbaz Sharif was supposed to then post it in the guise of a plea urging Trump to extend the deadline by two weeks 'to allow diplomacy to run its course'. Trump would then graciously accept Pakistan's 'request' and declare a ceasefire. Sharif dutifully posted the message on X. Except that he, or whoever was handling the account, forgot to delete the tell-tale first line visible in the edit history: 'Draft - Pakistan's PM Message on X'. Prem Panicker's must read blog on the Iran War.
Alliances fight wars effectively only when they share an endgame. If Israel acted without US knowledge, then the military alliance is operating without real coordination at the level of strategic targeting. Neither picture is reassuring in a war that is no longer regional in its consequences. Prem Panicker continues his must read daily blog on the Gulf War.
The LPG squeeze on India's restaurant sector is the quotidian face of a deeper crisis.
The question is no longer whether the war will expand. It has. The next few days will tell us whether the war stabilises around Hormuz or whether the Strait itself becomes the trigger for a far larger rupture. What to watch for over the next 48 hours is simple: Any move by the US toward direct naval control of the Strait; any credible Iranian attempt to disrupt or mine shipping lanes and, critically, whether energy infrastructure in the Gulf continues to be targeted.If those lines are crossed in tandem, the war will no longer be containable within the region.
Sri Lanka is facing a severe crisis after Cyclone Ditwah caused widespread flooding and landslides, resulting in numerous deaths and displacement. India has launched 'Operation Sagar Bandhu' to provide relief. The situation is expected to remain critical with rising river levels and continued rainfall.
Retail inflation slipped to 1.54 per cent in September from 2.07 per cent in the preceding month mainly due to subdued prices of food items, including vegetables and pulses, according to government data released on Monday. The consumer price index (CPI) based inflation was 5.49 per cent in September 2024.
'Some buyers get carried away by festival offers and purchase higher variants or larger vehicles than they truly need, which impacts running cost and long-term affordability.'
'Things may get much worse before they get better,' predicts Ajay Chhibber.
Clearly, some of the bullishness of the early days has gone missing. Ola's market share is slipping amid rising competition from incumbents like Bajaj Auto and TVS.
'The present generation, either due to historical amnesia or political propaganda, has been fed a narrative that paints India as an adversary rather than an ally.'
