Don't hoard LPG: Goyal says fuel supply stable despite war
What's the story
Union Commerce and Industry Minister Piyush Goyal has assured that India's fuel supplies remain stable despite the ongoing conflict in West Asia. Speaking at the CNBC-TV18 India Business Leader Awards 2026, he said there is no disruption in major fuels like petrol, diesel, and aviation turbine fuel (ATF). "When there is a war, there will be challenges. But we are well placed with respect to crude," he said.
Supply measures
LPG shortage concerns addressed
To avoid a possible Liquefied Petroleum Gas (LPG) shortage, the government has stepped up kerosene supply. Goyal urged citizens not to panic-buy gas cylinders, saying it's a supply-demand timing issue and not an availability one. He also said India is diversifying its energy imports beyond the Middle East by importing crude from Canada, the United States and Russia.
Contingency plans
SOPs for exporters being prepared
The commerce ministry is also preparing standard operating procedures to assist exporters if shipments need to be returned or rerouted due to the conflict. Goyal said they are in constant dialogue with stakeholders and export promotion councils every day. He reiterated India's commitment to trade negotiations with the United States on a bilateral trade agreement, saying teams are in continuous negotiations seeking preferential access against competitors.
Trade expansion
India's expanding network of trade agreements
Goyal also highlighted India's expanding network of trade agreements, with nine free trade agreements signed in the past three-and-a-half years covering 38 economies. Negotiations are underway with Israel and the Gulf Cooperation Council, while discussions are ongoing with Chile and Peru. Engagement with Mexico is expected to start later this year.