Union Petroleum Minister Hardeep Singh Puri on Tuesday hit back at critics of Prime Minister Narendra Modi's fuel conservation appeal, saying there was "no crisis in India" and accusing opponents of spreading panic and misinformation.

"Those celebrating what they perceive to be a difficult situation for 1.4 billion Indians and the nation's energy sector should introspect," Puri wrote on X. "While damaging their credibility, the panic, fear and rumour mongering they have consistently indulged in, will only take them this far and no further."

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The minister's remarks came after opposition parties criticised Modi's appeal asking citizens to reduce fuel consumption, adopt Work From Home where possible and postpone non-essential imports such as gold purchases and foreign travel amid rising global crude prices triggered by the West Asia conflict.

Puri said the PM's message was being misrepresented. "There is no crisis in India," he said. "PM Shri Narendra Modi Ji has only advised the citizens to moderate energy consumption to prevent any fiscal strain on the economy, not because we had issues with energy supplies. It was a word of caution and prudence."

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The minister said India had managed to keep petrol and diesel prices stable despite a sharp rise in global crude prices. "While crude prices have nearly doubled globally, impacting even the most developed economies, India has held petrol and diesel prices with continued fuel availability across more than 1 lakh retail outlets and uninterrupted LPG supply to 33.5 crore households," he said.

Puri said state-run oil marketing companies were currently absorbing losses of around ₹1,000 crore every day to shield consumers from global volatility. "For now, our OMCs are bearing losses of ₹1,000 crore per day and have been able to insulate the energy consumers from the impact of global volatility," he said.

The Defence Ministry had also said on Monday that India's oil marketing companies were facing under-recoveries of nearly ₹2 lakh crore in the first quarter of 2026 as global crude prices remained elevated.

The ministry said India currently has 60 days of crude oil reserves, 60 days of natural gas stocks and 45 days of LPG inventories. "There is no reason for anxiety, and no reason for any citizens to rush to retail outlets," the ministry said. 

Puri also highlighted India's efforts to diversify energy imports. "India has diversified crude sourcing from 27 countries in 2006-07 to 41 countries today and is ensuring uninterrupted supplies from routes that are not impacted by the geopolitical situation," he said. "We strategically hold enough energy for 74 days, and continue to further expand our capacity."

The minister said Modi's appeal was aimed at reducing fiscal pressure if the global conflict drags on. "The Prime Minister's statement is very visionary. It looks to the future - that if this (war) were to continue, we also have to (see) what we can do in terms of life changes," Puri said at CII's Annual Business Summit. "There are certain activities which we can curtail."

The government has repeatedly maintained that India's fuel supplies remain stable despite disruptions in the Strait of Hormuz and rising tensions in West Asia.
 

Published on: May 12, 2026 4:26 PM IST