Now Reading: India weathered global energy crisis, says Puri
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India weathered global energy crisis, says Puri
Petroleum Minister Hardeep Singh Puri said India ensured uninterrupted LPG supply during the global energy crisis by boosting domestic production and using diplomacy. Addressing the Viksit Bharat Conclave 2026 in New Delhi,…
Petroleum Minister Hardeep Singh Puri said India ensured uninterrupted LPG supply during the global energy crisis by boosting domestic production and using diplomacy. Addressing the Viksit Bharat Conclave 2026 in New Delhi, he said timely steps like directing refineries to prioritise cooking gas raised LPG production capacity from 35,000 metric tonnes per day to 54,000 metric tonnes per day, securing supply for over 33 crore consumers.
Puri added that India diversified its import basket, sourcing LPG from the US, Algeria and Argentina beyond traditional Gulf suppliers. Effective diplomacy with Iran, Oman, Qatar and the UAE helped secure safe passage for Indian vessels stranded near the Strait of Hormuz. The minister said no fuel retail outlets ran dry and that petrol and diesel prices in India have remained among the lowest globally over the past four years, helped by three rounds of excise duty cuts by the Centre.
Indian Opinion Analysis
Puri's claim of stable LPG supply is set against a backdrop of volatile global crude prices triggered by the Russia-Ukraine war and Red Sea disruptions. India imports roughly 85% of its crude oil and over half its LPG, making it vulnerable to supply shocks. The three excise duty cuts mentioned by the minister have cost the exchequer an estimated Rs 1 lakh crore annually in foregone revenue. The next indicator to watch is whether international crude prices, currently hovering near $80 a barrel, stay below the $85 threshold that typically forces domestic price revisions.
Source: newsonair.gov.in
This brief was synthesised by AI from the source linked above.
