India Lockdown Rumours: Union Minister of Petroleum and Natural Gas Hardeep Singh Puri delivered a strong rebuttal to circulating social media messages on Tuesday, categorically terming talks of an impending national lockdown as a baseless rumour. Speaking at the CII Annual Business Summit in New Delhi, the minister assured citizens that India faces no shortage of any petroleum product and maintains robust strategic reserves.
Puri provided specific inventory figures to counter the misinformation. He stated that the country currently has 60 days of crude oil reserves, 60 days of liquefied natural gas (LNG) reserves, and 45 days of LPG reserves readily available. This substantial buffer, he noted, was instrumental in insulating the Indian market from the severe volatility seen globally.
The minister highlighted that while ongoing geopolitical tensions in West Asia caused significant fluctuations in oil prices and product availability across many nations, India remained entirely unaffected. He credited this stability to proactive crisis management and the nation’s growing self-reliance in the energy sector.
Addressing the source of public anxiety, Puri directly accused miscreants of attempting to create artificial scarcity. “Some people tried their best to engage in hoarding and spread rumours, but our efforts ensured that there was no shortage of petrol, diesel, or LPG anywhere in the country,” he said. The minister also linked these tactics to a familiar political playbook, stating that the opposition has historically tried to spread rumours and incite people during crises.
Puri took specific aim at two prevailing falsehoods. He clarified that the narrative suggesting India refused to take LNG imports from Russia is entirely inaccurate because the truth is India has never imported LNG from Russia. He reiterated that the idea of a major lockdown being imposed is strictly a rumour and completely false.
To meet domestic demand and ensure uninterrupted supply amid global tensions, India has significantly boosted its internal manufacturing capacity. Puri revealed that daily LPG production has been ramped up from 35,000 tonnes to 54,000 tonnes, marking an increase of nearly 55 percent. “This achievement is truly extraordinary and reflects India’s capability, self-reliance, and strength in crisis management,” the minister stated.
While the supply-side picture remains strong, the minister issued a cautionary note regarding the financial health of state-run oil marketing companies (OMCs). He warned that these companies are facing potential losses of up to Rs 1 lakh crore in a single quarter if high international crude prices persist while domestic retail fuel prices remain static.
Puri remarked that a serious assessment needs to be made regarding how long retailers can sustain selling petrol, diesel, and cooking gas below their cost price. However, he refused to speculate on any imminent revision of retail rates, merely reiterating that there are no supply-side constraints.
