Kishan Reddy Assurance on Fuel Supplies, Price
He added that India has diversified its sources of crude oil, reducing dependence on nations supplying through the Hormuz Strait by securing supplies from other countries via different routes.
Hyderabad:Union minister for coal and mines G. Kishan Reddy appealed to people not to panic over petrol prices following the war between the United States and Iran, stating that the Modi government had taken all precautionary measures to meet any eventuality.
In a statement, Kishan Reddy said the country maintains sufficient reserves of petrol, diesel and aviation turbine fuel. He noted that strategic petroleum reserves are in place at Mangalore, Paduru near Visakhapatnam and other locations, while special focus has been given to local crude production and ethanol blending.
He added that India has diversified its sources of crude oil, reducing dependence on nations supplying through the Hormuz Strait by securing supplies from other countries via different routes.
Amid uncertain international developments, the central government is constantly reviewing the situation and has constituted a special committee comprising top officials from the ministry of external affairs, ministry of shipping and ports, petroleum ministry, CBDT and department of financial services, he said.