Petroleum Ministry meets, issues assurance on fuel supply
India
With oil prices climbing thanks to the Iran-Israel conflict, India's government wants everyone to know—fuel supplies aren't stopping anytime soon.
The Petroleum Ministry met up today and issued assurances that India can handle any short-term disruption.
Right now, the Strategic Petroleum Reserve holds enough crude for 9-10 days, plus there's a bigger backup in commercial stocks.
India is working to diversify its energy sources
India gets about half its oil through the Hormuz Strait—a region currently on edge.
If prices spike, it could mean higher costs down the line.
But with 74 days' worth of oil in reserve and efforts underway to diversify where we get our energy from, officials say there's no need to panic about running out of fuel or gas for now.