New Delhi: The Centre on Monday asserted that India faces no shortage of petroleum products despite continuing instability in West Asia, with the government maintaining sufficient reserves of crude oil, natural gas and LPG while urging citizens to avoid panic buying and adopt responsible consumption practices.

Chairing the fifth meeting of the Informal Group of Ministers (IGOM) on West Asia in New Delhi, Defence Minister Rajnath Singh said the government’s primary focus was to ensure uninterrupted energy supplies, economic stability and secure maritime trade routes amid the ongoing regional conflict.

“All concrete steps are being taken to prevent supply chain disruptions. People must remain calm,” Singh said during the high-level meeting held at Kartavya Bhawan.

According to the government, India currently has reserves equivalent to 60 days of crude oil, 60 days of natural gas and 45 days of LPG rolling stock. Officials also informed the ministers that the country’s foreign exchange reserves stand at USD 703 billion.

The meeting reviewed the impact of the continuing West Asia conflict and assessed India’s preparedness to minimise disruptions to domestic supply chains and economic activity.

The government said India remains among the few countries where fuel prices have remained stable despite over 70 days of global volatility linked to the conflict.

Officials informed the ministers that while several countries have witnessed fuel price hikes ranging from 30 to 70 per cent, Indian oil marketing companies have absorbed losses of nearly Rs 1,000 crore per day to shield consumers from rising international crude prices.

The under-recoveries of oil companies have reportedly touched nearly Rs 2 lakh crore during the first quarter of 2026.

The government emphasised that there was “no reason for anxiety” and appealed to citizens not to rush to fuel stations or resort to over-purchasing essential commodities.

The ministers were also informed that the current conservation measures were intended for long-term capacity building in case the global crisis prolonged further.

Singh directed ministries and state governments to implement Prime Minister Narendra Modi’s appeal for fuel conservation and responsible consumption at the grassroots level.

Earlier, Modi had urged citizens to reduce petrol and diesel consumption by increasingly using public transport, metros and carpooling. He also called on people to avoid unnecessary foreign travel, prefer domestic tourism and postpone non-essential gold purchases for a year to help conserve foreign exchange reserves.

The Prime Minister further appealed to farmers to reduce chemical fertiliser usage by 50 per cent, adopt natural farming practices and shift towards solar-powered irrigation pumps instead of diesel-based systems.