Fuel Imports

India navigated energy crisis with little burden on citizens: PM Modi

India successfully navigated one of the biggest global energy crises through proactive policies, diversified fuel sourcing, and strong diplomatic ties, with minimal burden on citizens, Prime Minister Narendra Modi said on Saturday. The prime minister was addressing a gathering after inaugurating a refinery in Pachpadra of Balotra district. He also laid the foundation stone of multiple development projects. Modi said India expanded its energy imports significantly during the West Asia crisis. "When the crisis began, India was importing energy from about 25-26 countries. During the crisis, we increased this to more than 40 countries," he said, attributing the turnaround to India's diplomacy. He said oil companies incurred losses of over Rs 75,000 crore between April and June due to rising global prices, but the government absorbed the burden. "We reduced excise duty by Rs 10 per litre and ensured that the burden on citizens did not increase significantly," he said. Rumours were spr

Govt to lift curbs on petrol, diesel sales to commercial buyers from July 1

On June 12, the government had prohibited industrial and commercial consumers from purchasing petrol and diesel from retail outlets, directing them to source fuel from designated consumer pumps

Govt set to boost biogas prices, subsidies amid fuel supply concerns

The policy expected to debut this month would increase the offtake price of compressed biogas, or CBG, and offer financial benefits to companies for spending on new projects

India raises Russian crude oil and US gas imports in May, shows data

Imports of Russian crude oil rose to 1.92 million barrels per day till May 28

Austerity and symbolism: Matching intent with action amid crises

Following through announcements with enforcement of measures is key, as a run through recent Indian economic history shows

Govt assures adequate fuel stock amid PM Modi's energy conservation push

The government said India has adequate fuel supplies and stable prices despite rising global energy costs and mounting losses for oil marketing companies

West Asia crisis: Maha ACS says no shortage of fuel, LPG supply stable

The Maharashtra government on Monday said there is no shortage of petroleum products in the state amid the West Asia crisis and asked people to avoid panic buying. The state had faced challenges in LPG supply due to dependence on imports from Gulf countries, but the situation is now improving with calibrated policy measures by the Union government, Additional Chief Secretary (Food and Civil Supplies) Anil Diggikar asserted. Addressing a joint press briefing, he said, "Petrol and diesel stocks are adequate in the state. The situation has stabilised. LPG supply to the commercial sector has also been partially restored." Controller of Rationing and Nodal Officer (Crisis Management for Integrated Food Supply) Chandrakant Dange said LPG supply to commercial cylinder distribution was halted initially on the Centre's directives. "Subsequently, phased relaxation was introduced. First, 20 per cent allocation was allowed for essential services such as hospitals, schools, orphanages, ...

Shah mocks Rahul Gandhi on petrol price remarks, says no fuel shortage

Union Home Minister Amit Shah on Monday lampooned Congress leader Rahul Gandhi for his claims of an increase in the prices of petrol and diesel, saying that it indeed was the case, but in neighbouring Pakistan. Under Prime Minister Narendra Modi's leadership, the country has bucked international trends of fuel shortage, work from home orders and "skyrocketing prices," and the government has ensured availability of petroleum products amidst the West Asia conflict, he said. Addressing a poll rally here ahead of the April 9 Assembly elections, the senior BJP leader promised to make all efforts to ensure a developed Puducherry if the NDA is given a two-thirds majority. The ruling AINRC-BJP combine is seeking a successive term in the coming polls. Shah said Rahul Gandhi, at a recent public meeting in this union territory, had said that "due to the Gulf war, petrol prices have gone up in India. "He is right. Petrol costs Rs 458, while diesel has gone up to Rs 520. But Rahul... that has

Govt advises against panic buying, says fuel supplies adequate

The government on Saturday urged citizens to avoid panic buying of petrol, diesel and LPG, saying fuel supplies remain adequate despite disruptions linked to the closure of the Strait of Hormuz. The Ministry of Petroleum and Natural Gas said the government is taking proactive steps to ensure the uninterrupted availability of petroleum products and cooking gas, while advising people to rely only on official information and conserve energy. The government has prioritised domestic LPG and piped natural gas (PNG) supplies, particularly for households, hospitals and essential services, and has implemented measures to boost refinery output and manage demand, including extending LPG refill intervals. Authorities have also stepped up enforcement against hoarding and black marketing, conducting more than 3,700 raids and issuing around 1,000 show-cause notices to LPG distributors, with 27 dealerships suspended so far. Despite supply pressures from the geopolitical situation, there are no ...

India ramps up PNG rollout, 270,000 new connections given in March

India added more than 3.1 lakh new piped natural gas (PNG) connections in March and another 2.7 lakh connections were issued as the government accelerated expansion of cleaner fuel networks amid supply disruptions following the closure of the Strait of Hormuz. With the war in West Asia disrupting cooking gas LPG supplies, the government has been pushing for greater adoption of piped natural gas - considered more convenient than LPG cylinders for everyday use as gas is delivered through a pipeline directly to home without the botheration of booking refills. The war has effectively shut the Strait of Hormuz - the shipping lane through which India got most of its LPG. While LPG supplies have been disrupted, half of the country's requirement of natural gas is produced locally and for the rest there are diversified sources. "During the month of March, more than 3.1 lakh connections including domestic, commercial, hostel, mess, canteen etc. have been gasified. In addition to above, more .

Oil-thirsty Asian nations seek Russian crude as Iran war strains supplies

Asian nations are increasingly competing for Russian crude oil as an energy crisis mounts amid the month-old war by the US and Israel against Iran, which has choked off roughly a fifth of the world's oil supply. Much of the oil from the mostly shut Strait of Hormuz was headed for Asia, hit hardest by recent energy shocks. Over the weekend, Iran-backed Houthi rebels entered the conflict, further threatening shipping. To shore up global crude oil supplies, the US has temporarily eased sanctions on Russian oil shipments already at sea - first for India, then for the rest of the world. Demand is rising in Asia while Russia is raking in billions of dollars. But experts say there is a limit to how much Moscow can boost its exports of crude oil, which is unrefined petroleum needed to make fuels like gasoline and diesel, and it is already exporting at a level close to its previous peak. In addition, Russia's 4-year-old full-scale invasion of Ukraine and recent drone attacks on its energy .

India's fuel supply remains robust despite West Asia crisis: Suresh Gopi

Union Minister of State Suresh Gopi on Saturday said that the country's fuel supply chains are "robust and operational" despite the situation in West Asia. Gopi, the Minister of State for Petroleum, Natural Gas and Tourism, said, in a Facebook post that the recent panic buying seen in some regions were fueled by "false narratives" and "unnecessary alarm". "Chaired a high-level review meeting with representatives from IOCL, BPCL, and HPCL at Thrissur to address the recent narratives regarding fuel shortages. Despite global challenges and the situation in West Asia, our supply chains are robust and operational." "The panic buying we've seen in some regions are being fueled by false narratives and unnecessary alarm," he said in his post. He urged everyone not to fall prey to social media misinformation. "Stay Calm. Stay Informed. Trust only verified sources," he said.

Why taxes on petrol and diesel remain India's most reliable revenue cushion

Petrol and diesel remain outside the GST framework, giving governments flexibility to impose excise duty, cess and VAT without the constraints of tax sharing

Cong slams PM over rising oil, gas import dependence amid supply concerns

The Congress on Friday attacked Prime Minister Narendra Modi over India's increasing dependence on crude oil, LPG and natural gas imports. "The gas grandly promised by Mr Modi has remained that -- gas," Congress general secretary in-charge of communications Jairam Ramesh said on X, pointing to India's dependence on natural gas imports. "Between 2014-15 and 2024-25, India's dependence on crude oil imports went up from 84% to 90%. Between 2014-15 and 2024-25, India's dependence on LPG imports went up from 46% to 62%," Ramesh said, adding that "all this when the mantra was supposed to be Atmanirbharta, or self-reliance. The natural gas story is murkier, he claimed. "On June 26, 2005, the then CM of Gujarat (Modi) boasted that the Gujarat State Petroleum Corporation had discovered India's biggest gas reserve in the deep waters of the Krishna-Godavari river basin. Mr Modi announced that this would make India energy independent," Ramesh said. He claimed that five CAG (Comptroller and ..

Energy crisis: Let prices adjust for a sustainable long-term solution

The cost of the Indian basket, however, has increased more sharply to over $156 per barrel due to disruptions in supplies from West Asia

LPG crisis: HungerBox invests ₹3.5 crore in shift to electric cooking

HungerBox has invested Rs 3.5 crore in electric cooking systems to tackle LPG shortages and support food partners, ensuring continuity amid supply disruptions

Mahanagar Gas offers free fuel, bill adjustment for PNG customers

The city gas distributor has announced free gas, fee waivers and discounts for new and existing users following the government's move to prioritise PNG and CNG supply

Best of BS Opinion: West Asia war, rupee depreciation & RBI's policy tone

From the economic fallout of the West Asia conflict and lessons from modern warfare to the RBI's upcoming policy decision and Kanwal Rekhi's memoir, here are the key views from today's Opinion page.

West Asia war: Gas crunch disrupts factories, from production to canteens

Fuel shortages linked to the West Asia war are disrupting factory output and canteen operations across India, forcing gas-dependent units to cut production and seek alternative energy sources

India to supply 5000 tonnes of diesel to Bangladesh amid fuel concerns

Earlier in the week, on Sunday, Bangladesh conducted drives to inspect the fuel stock situation, Bangladesh Energy Ministry said