India has only 25 days of oil left: Government is looking for new suppliers amid Israel-Iran war; At present petrol and diesel will not be expensive

India is the world’s third largest consumer of crude oil.

Amidst the increasing tension in West Asia and the Iran-Israel war, India now has only 25 days of crude oil and refined oil stock left.

News agency ANI has given this update regarding the energy security of the country according to government sources. The report said that the government is constantly monitoring the situation and is in talks with alternative countries for crude oil, LPG and LNG, so that there is no disruption in the supply chain.

Actually, Iran has announced the closure of the Strait of Hormuz. Also, Iran’s army has warned that if any ship passes through this route, it will be set on fire. This route located between Oman and Iran is considered most important for the world’s oil business.

The closure of the Hormuz Route will affect the oil supply of many countries of the world, in which Asian countries including India will be most affected. Due to closure of this route, crude oil prices in the global market may cross $100 per barrel. Currently, the price of Brent crude has increased by about 5.58% to around $80.41 per barrel.

There is no plan yet to increase the prices of petrol and diesel.

It is a matter of relief for the general public that the Indian Government currently has no intention of increasing the prices of petrol and diesel. According to sources, despite fluctuations in the international market, efforts are being made to keep prices stable at the domestic level. The Petroleum Ministry has said that all necessary steps will be taken to ensure availability and affordable prices of major petroleum products in the country.

Petroleum Minister held a review meeting on Monday

Earlier on Monday, Union Petroleum and Natural Gas Minister Hardeep Singh Puri had held a high-level meeting with senior officials of the ministry and government oil companies. The supply situation of crude oil and LPG was reviewed in this meeting. The ministry posted on social media platform X that they are closely monitoring the changing circumstances.

Government active regarding impact on export-import

The government is active not only on oil but also on its impact on business. The Directorate General of Foreign Trade (DGFT) under the Commerce Ministry had conducted a stakeholder consultation meeting. It discussed how geopolitical tensions in West Asia could affect India’s export-import and cargo flow.

Union Petroleum and Natural Gas Minister Hardeep Singh Puri.

Challenge of increasing shipping routes and insurance costs

In the meeting, representatives of logistics operators and shipping lines said that due to the current tension, routes of ships have to be changed, due to which the transit time has increased. Apart from this, there is also an increase in the cost of freight and insurance. The government has focused on simplifying the documentation and payment processes for exporters and importers and reducing delays in cargo movement.

India’s dependence on West Asia is huge

India imports about 85% of its crude oil needs, a large part of which comes from West Asian countries. This is the reason why any movement in this region has a direct impact on India’s economy and energy security. The government is now increasing focus on alternative routes like Russia and other African countries so that dependence on any one region can be reduced.

India will again increase the purchase of crude oil from Russia

A day earlier, Bloomberg had told in one of its reports that after the war between Iran and Israel and the oil supply chain being affected, India has once again turned towards Russia. India is planning to increase the purchase of crude oil from Russia to meet its needs.

The supply of oil through the Strait of Hormuz has almost come to a standstill, due to which officials of government refineries and petroleum ministry held an emergency meeting in Delhi and started looking for alternatives.

India is the world’s third largest consumer of crude oil. India imports about 88% of its total crude oil requirement from abroad.

India’s preparation to buy Russian oil tankers standing in the sea

According to the report, India is considering buying Russian oil cargoes that are currently lying near Indian waters or in Asian waters. According to data, at present about 95 lakh barrels of Russian crude oil is loaded in tankers and is in waiting mode around Asian countries. In case of shortage in supply, India can receive these tankers immediately, which will reduce both the time and cost of transportation.

Why is Russian oil important for India?

Cheaper Option: Russia offers oil to India at a discount from benchmark prices.

Supply Security: If tensions in the Middle East stop supplies from the Strait of Hormuz, Russia is a safe option.

Impact on economy: Due to availability of cheap oil, the prices of petrol and diesel remain stable in the country and inflation remains under control.

India is the third largest buyer of Russian oil

In December 2025, India stood third in purchasing oil from Russia. Turkey became the second largest buyer. Turkey bought oil worth 2.6 billion euros. India bought oil worth 2.3 billion euros (about Rs 23,000 crore) from Russia in December. In November, India had bought oil worth 3.3 billion euros (Rs 34,700 crore).

China still remains the biggest buyer, it bought oil worth 6 billion euros i.e. about Rs 63,100 crore from Russia in December. The biggest reason for India’s reduced purchases was Reliance Industries. Reliance’s Jamnagar Refinery almost halved its oil purchases from Russia.

Earlier, Reliance used to take its entire supply from Russian company Rosneft, but due to fear of US sanctions, now companies are buying less oil from Russia. Apart from Reliance, government oil companies also reduced oil purchases from Russia by about 15% in December.

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50% of India’s oil supply at risk due to Iran-Israel war: Gold and silver may become expensive; If Hormuz route is closed then 10% of exports are also in danger

The effect of the war that started between Iran and Israel can be seen on India’s oil, trade, stock market and gold and silver prices. If the war between the two countries escalates, the Strait of Hormuz may be closed. Due to this, half of the oil supply to India every month will be in danger.

Apart from this, India’s non-oil exports may also be affected. More than 10% of it is supplied from this region. Experts believe that due to increase in corrosion, crude oil prices may increase rapidly. Due to oil becoming expensive, inflation increases and this will also affect the stock market. Read the full news…