India Ensures Fuel and Fertilizer Supply Amid West Asia Crisis
West Asia crisis: Govt reviews fuel, LPG supply, urges no panic buys
Image: Asianet Newsable
The Indian government has assured citizens that fuel and fertilizer supplies remain stable despite the ongoing crisis in West Asia. A meeting chaired by Defence Minister Rajnath Singh emphasized the importance of avoiding panic buying and highlighted the country's adequate fuel reserves and efforts to maintain agricultural inputs for the upcoming Kharif season.
- 01India's installed refining capacity is 258.1 million tonnes per annum, exceeding last year's consumption of 243.2 million tonnes.
- 02Public Sector Oil Marketing Companies are absorbing losses of approximately ₹550 crore daily to keep retail prices stable.
- 03The estimated fertilizer requirement for the Kharif season is 390.54 lakh metric tonnes, with current availability at 200.47 lakh metric tonnes.
- 04The government has secured 15 lakh metric tonnes of DAP and 10 lakh metric tonnes of NPK fertilizers expected to arrive in May and June.
- 05Enforcement actions against misuse of retail fuel purchases are being intensified to prevent black marketing.
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In response to the ongoing crisis in West Asia, the Indian government reviewed the availability of essential commodities, including fuel and fertilizers, during a meeting of the Informal Group of Ministers (IGoM) chaired by Defence Minister Rajnath Singh. The government reassured citizens that supplies remain normal and urged against panic buying of petrol, diesel, and LPG. With an installed refining capacity of 258.1 million tonnes per annum, India has sufficient fuel reserves, and Public Sector Oil Marketing Companies are currently absorbing losses of around ₹550 crore per day to maintain stable retail prices. The meeting also assessed fertilizer availability for the Kharif season, with current stocks at 200.47 lakh metric tonnes, which is over 51% of the estimated requirement. The government has secured additional fertilizer imports to ensure adequate supplies for farmers. To combat misuse of retail fuel, enforcement actions are being strengthened to address black marketing and ensure fair pricing.
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The government's assurance of stable fuel and fertilizer supplies aims to prevent price volatility and ensure food security.
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