India is prepared to manage global disruptions in oil and has fuel reserves equivalent to 76-80 days of consumption, union minister of petroleum and natural gas Hardeep Singh Puri said. Puri said he expects fuel prices to come down, while assuring that there was no immediate energy risk to the country.
He further said that he does not expect oil prices to be “this high” for a very long period of time, saying India has enough strategic petroleum reserves, refinery inventories and commercial stocks to provide at least 30-60 days of buffer, even if the Strait of Hormuz remains closed.
