Amidst the intensifying conflict between Iran and Israel that has sent global crude prices soaring past $120 per barrel, the Indian government has delivered a reassuring message to the public. On April 1, 2026, the Ministry of Petroleum and Natural Gas confirmed that India has secured enough oil to meet the nation’s demand for at least the next two months. The government stated that including the strategic petroleum reserves and stocks held by oil marketing companies, India has a total buffer for approximately 74 days.

Despite the volatility in the international market, retail prices for regular petrol and diesel remain unchanged in major cities. In Delhi, petrol continues to retail at ₹94.77 per litre and diesel at ₹87.67 per litre, thanks to the massive ₹10 per litre excise duty cut announced on March 27. The Ministry clarified that while premium fuels and aviation turbine fuel (ATF) have seen significant price hikes due to global pressures, regular fuels—the lifeline of common transport—will be shielded from under-recoveries.

Government sources added that India is leveraging its diversified import sources and long-term contracts to maintain stability. While the Strait of Hormuz crisis remains a threat to global supply, the current domestic stockpile ensures that there will be no immediate shortage or price spike. Citizens are advised not to engage in panic buying, as the country’s energy security remains robust despite the geopolitical storm in West Asia.