The conflict between Israel, America and Iran is no longer just between these three. It has spread throughout the Middle East. A lot of voices are coming from Europe also. Russia and China have also given their own statements. It is clear that this struggle is not going to end soon. The longer the Middle East crisis continues, the more problems will increase for the entire world. The biggest reason for this is the supply of crude oil and gas. Keeping this in mind, people associated with India and industries have started making plans for the coming days.
People associated with the ongoing talks between the government and the industry said that India is considering several emergency options, which include banning petrol and diesel exports, increasing the import of crude oil from Russia, and implementing demand-management measures, so that the possible shortage of fuel can be overcome if the traffic through the Strait of Hormuz remains halted for weeks.
Oil and gas prices surged on Monday, with Brent crude futures rising nearly 10% to $80 a barrel and European gas jumping more than 40% as escalating conflicts in West Asia and attacks on energy facilities including Saudi Arabia’s Ras Tanura refinery and Qatar’s LNG plant halted production.
Tanker movement through the strait remained low for the second day on Monday, raising concerns about continuity of supply and forcing officials and refineries to consider other options. Industry officials and Oil Ministry officials are examining supply and demand management measures.
LPG is the weakest
According to experts, Iran may find it difficult to maintain military momentum and transit through the strait may soon become normal. However, US President Donald Trump has said that this fight in West Asia could last for four weeks. After the review by Oil Minister Hardeep Puri on X, the Oil Ministry said that we are constantly monitoring the changing situation, and all necessary steps will be taken to ensure the availability and affordability of major petroleum products in the country. People said that one important step that the Indian government is considering is to ban the export of petrol and diesel to increase domestic availability in case of emergency.
In view of ongoing geopolitical developments in the Middle East, the Minister of Petroleum & Natural Gas reviewed the supply situation for crude oil, LPG, and other petroleum products with senior officials from the Ministry and PSUs.
We are continuously monitoring the evolving pic.twitter.com/N4tZHktXSM
— Ministry of Petroleum and Natural Gas #MoPNG (@PetroleumMin) March 2, 2026
India exports about a third of its petrol, a quarter of its diesel, and about half of its aviation turbine fuel (ATF) output. He said that if needed, refiners can also redirect surplus ATF to other product streams. The most vulnerable is LPG, where India depends on imports for about two-thirds of its consumption and maintains modest inventories. About 85-90 percent of LPG imports are from the Gulf only.
two weeks cover
Industry estimates suggest that if there is a supply disruption, stocks—which include onshore inventory and cargo that has transited the Strait of Hormuz—could last less than two weeks. In response, state refiners Indian Oil, HPCL, and BPCL have started increasing LPG production at certain petrochemical integrated refineries. People said that targeted demand-management steps are also being discussed.
India’s crude oil reserves can cover about 17-18 days of consumption, refined fuels like petrol and diesel about 20-21 days, and LNG about 10-12 days. In the absence of new inflows through Hormuz, these buffers will continue to diminish. In recent months, Gulf countries accounted for almost half of India’s crude and LNG imports.
People said that to compensate for the loss of supply in the Gulf, increasing the import of Russian oil is also being considered. A large amount of Russian oil is still on the water and can be moved very quickly. People said that if global supply decreases and prices rise rapidly, Washington’s stance may soften, allowing Indian refiners to buy more Russian oil.