Government Says No Fuel Shortage Despite ₹1,000 Crore Daily Oil Losses After PM Modi’s Appeal

Brief By Hindustan Times / 10:16 PM on 11 May 2026

The Centre assured citizens there is no fuel shortage after Prime Minister Narendra Modi urged reduced petrol use and deferred gold purchases. Officials said India holds ample crude reserves, while state-run oil firms are absorbing nearly ₹1,000 crore in daily losses amid rising global crude prices and conflict-driven disruptions.