Union Minister of Petroleum and Natural Gas, Hardeep Singh Puri, on Tuesday said the centre has increased LPG production to 55,000-56,000 tonnes from around
35,000 tonnes earlier. The minister asserted that there is no fuel shortage anywhere in the country. While speaking at the CII Annual Business Summit 2026, Minister Puri said, "We’ve converted the challenge into an opportunity. We haven’t raised prices for the last four years. I’m not saying prices will no go up. I’m saying prices and elections are unrelated." "We have 60 days of crude, which is the max we need. We have 60 days of LNG and 45 days of LPG," the minister said. India remained in a stable position even as several countries were facing shortages and rising energy prices due to the continued disruptions around the Strait of Hormuz. "In the last four years, there has been no increase in prices." Today, we are in a situation where unlike other countries in the world, which have had to either face severe problems in terms of availability and supply, or where prices have gone up 50-60 per cent," Puri said. "India has not increased fuel prices in the last four years and has sufficient stocks of crude oil, LNG and LPG despite the ongoing disruptions around the Strait of Hormuz," the minister said. He said the oil marketing companies are losing Rs 1,000 crore per day, and these firms are making Rs 198,000 crore under recoveries and losses stood at Rs 1 lakh crore for this quarter. Brent Crude Oil prices extended their rally on Tuesday amid the uncertainty over the Iran War as the ceasefire proposal continues to be far from the sight. Brent crude futures were up 30 cents, or 0.29%, at $104.51 a barrel, while US West Texas Intermediate rose 31 cents, or 0.32%, to $98.38 on Tuesday. Brent crude stays at highs after US President Donald Trump said Iran's response to Washington's peace terms was "totally unacceptable," reigniting concerns over the conflict's impact on global energy flows.
