India holds 60 days fuel reserves and boosts LPG output
With the West Asia conflict causing supply hiccups, India is playing it safe by holding enough crude oil and fuel to last 60 days, including a solid 45-day LPG reserve.
Petroleum Secretary Neeraj Mittal shared that the government has kept things steady by buying from new suppliers and boosting local LPG output from 30,000 to 50,000 metric tons.
India plans 6 month storage expansion
India isn't stopping there: the plan is to expand storage for crude oil, natural gas, and LPG over the next six months.
This comes as the average price at which refiners import oil rose from $69.01 in February to $104.68 in May.
Even with state-run oil companies facing big losses (and no government bailout), Mittal says the focus is on smarter reserves, more domestic exploration, and greener energy options like LNG trucks and higher ethanol blends.