No shortage of petroleum products, avoid panic but follow PM’s advice to save fuel: Rajnath at iGoM meeting

New Delhi: Defense Minister Rajnath Singh on Monday urged “people to remain calm and avoid any kind of panic as all concrete steps are being taken to prevent shortage or disruption in the supply chain”. The minister, who chaired the fifth Informal Group of Ministers (IGoM) meeting on developments in West Asia, said “the government’s primary focus is to ensure that energy flows are not disrupted, economies are stable and maritime trade routes remain secure”. However, he urged people to use fuel wisely.Including Jagat Prakash Nadda, Hardeep Singh Puri, Ashwini Vaishnaw, Kiren Rijiju, KR Rammohan Naidu, S Sonowal and Jitendra Singh The IGoM was attended by several ministers, including the country, who were informed that the country is safe and there is no shortage of any petroleum products, even though most other countries have taken emergency measures to significantly reduce domestic consumption.Ministers were also informed that there is a surplus of essential goods for the people and that the current protections are intended to build long-term capacity while the crisis continues. Supply management is good and people do not need to panic or over-purchase fuel and other products.“India has 60 days of crude oil, 60 days of natural gas and 45 days of LPG rolling stock. Foreign exchange reserves are as high as US$703 billion. India is the world’s third largest oil refiner and the fourth largest exporter of petroleum products. It exports to more than 150 countries and fully meets domestic demand. But as international crude oil prices continue to be at very high levels, India has borne huge costs. Saving fuel can alleviate this burden,” the government said in a statement released after the meeting.However, Rajnath directed officials to take concrete steps to implement the Prime Minister’s call (rational use of fuel) at the grassroots level. “Ministries and states must identify measures in a coordinated manner to institutionalize fuel efficiency, public awareness and responsible consumption behaviour,” he said, adding that we “need to focus on strategic crisis anticipation, early warning assessments, scenario planning and timely whole-of-government preparedness”.Prime Minister Narendra Modi on Sunday called on people to collectively engage in prudent use of petroleum products and reduce wasteful consumption to help the country cope with rising prices caused by global economic chaos, supply chain challenges and international conflicts, thereby reducing the country’s financial burden.India is one of the few countries where oil prices have remained stable during global volatility, even more than 70 days after the conflict began. In many countries, prices have increased by 30% to 70%. However, the burden of global sky-high prices is not being passed on to Indian citizens as Indian Oil Marketing Corporations are incurring daily losses of close to Rs 1,000 crore and the recovery shortfall in Q1’26 was close to Rs 200 crore.