'No plans for rationing of petrol and diesel'

The Indian government has confirmed that there are currently no plans to ration petrol and diesel, citing sufficient stock levels to meet domestic demand. As the country faces energy challenges due to escalating conflicts in West Asia, the Gas Authority of India Limited (GAIL) is expected to declare force majeure to prioritize gas supplies. This move follows Qatar Energy's recent declaration of force majeure, which is crucial as Qatar accounts for 20% of global LNG supply and 60 million metric standard cubic metres per day of India’s imports. In response to potential supply disruptions, India is actively pursuing alternative energy sources, with offers from Australia and Canada to sell gas. The government is also negotiating with major oil producers and organizations like the International Energy Agency (IEA) and OPEC to ensure energy security. Presently, India has a comfortable inventory of crude oil, petrol, and diesel, with eight weeks of total inventory available, including strategic reserves. Approximately 40% of India's crude oil imports transit through the Strait of Hormuz, limiting exposure to regional instability. The government is closely monitoring the situation and has expressed confidence in managing any supply challenges due to its diversified sourcing strategies and robust stock levels.