After US President Donald Trump announced the deal with Iran, the whole world is hopeful that the energy supply chain will now be normal. Trump has announced that an agreement to end the war between America and Iran has been finalized. The peace agreement is to be signed in Switzerland on June 19. Prime Minister Narendra Modi has welcomed this peace agreement. After this deal, India’s Ministry of Petroleum and Natural Gas issued a statement saying that there is no shortage of petrol and diesel in the country.

India’s statement on LPG, petrol and diesel

Sujata Sharma, Joint Secretary in the Ministry of Petroleum and Natural Gas, said, ‘The supply of petrol, diesel and LPG in the country remains stable. Refineries are working at their full capacity and crude oil stock is also being maintained in sufficient quantity. However, sales at some retail outlets are unusually high. The main reason for this is that industrial, direct, institutional and commercial customers are now purchasing fuel from retail outlets, due to which sales have increased there.

Hormuz will be opened without toll: Trump

Trump has said in his ex-post that a deal has been made with Iran on the basis of which Hormuz will be opened without toll. Trump has also issued orders to lift the naval blockade. The agreement between the US and Iran to end the 107-day long conflict and reopen the Strait of Hormuz is expected to provide relief to India’s economy on many fronts. This agreement is likely to accelerate India’s exports to West Asia, give impetus to manufacturing activities and stabilize the rupee.

Decline in imports from Gulf countries

The conflict disrupted global energy supplies, sent crude oil prices above $100 per barrel, and brought the entire West Asia to the brink of a broader regional conflict. This conflict started on February 28, when America and Israel started military operations against Iran’s nuclear program. Its impact was clearly visible on India’s exports. The country’s exports declined by 7.44 percent to $38.92 billion in March, which is the biggest decline in five months. According to the report of news agency PTI, imports from Gulf countries also fell by 51.64 percent during this period.

India’s total trade with JCC

India’s total trade with the Gulf Cooperation Council (JCC) shows a mixed trend. In 2024-25, India’s exports increased by almost one percent to $ 57 billion, while imports increased by 15.33 percent to $ 121.7 billion. United Arab Emirates was India’s third largest trading partner. In 2025-26, exports increased by two percent to $37.4 billion and imports to $63.9 billion, resulting in a trade deficit of $26.53 billion.

Saudi Arabia was the fifth largest partner. Exports declined by 12.55 percent to $110.28 billion, while imports increased by 2.22 percent to $30.8 billion and trade deficit stood at $20.5 billion. Exports to Qatar declined by 3.7 percent to $1.62 billion and imports declined by 1.37 percent to $12.3 billion, leaving the deficit at $10.7 billion.

Exports to Oman declined by one percent to $4.02 billion and imports increased by 9.43 percent to $7.16 billion and the loss was $3.14 billion. Exports to Kuwait were $1.65 billion, imports were $7.91 billion and the deficit was $6.26 billion. Exports to Bahrain were $779 million, imports were $887.7 million and the loss was $108.7 million.

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Petrol Diesel News: In the last month i.e. May 2026, the prices of petrol and diesel increased almost four times. Due to which the general public became very upset and stressed. People were praying that the ongoing war between Iran and the US should end as soon as possible, so that inflation does not increase. Now when news has come out that peace talks have taken place between Iran and the US, then people have heaved a sigh of relief. Meanwhile, there is good news for oil companies also.

Government released figures
In fact, recently the Ministry of Petroleum and Natural Gas has revealed that the losses of oil companies have now reduced significantly. Sujata Sharma, Joint Secretary of the Petroleum Ministry, said during a recent press briefing that the losses incurred by oil marketing companies (OMCs) on the sale of petrol and diesel have reduced significantly. While releasing the figures, he said that the loss per liter on petrol has reduced from Rs 24 to Rs 3, that is, it has decreased by 83%. At the same time, the loss on diesel has come down from Rs 105 per liter to Rs 27, which shows a reduction of 75%.

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How did the losses of oil companies reduce?
Recently the government also gave funds to help oil companies. According to the Finance Department, they have helped oil marketing companies to the tune of Rs 1.23 lakh crore. It is such that in order not to put additional burden on consumers, the Central Government gave relief to oil companies by cutting excise duty on petrol and diesel. This is also a big reason why the losses of oil companies have reduced.

Let us tell you that due to the ongoing war between Iran and the US, the prices of crude oil had increased. Due to which the central government had increased fuel prices four times in the month of May. Even after this, the total loss of oil companies had reduced to about Rs 600 crore per day. Earlier on May 18, 2026, this figure was around Rs 750 crore per day.

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Petroleum Ministry: Due to the tension being seen in the Middle East for the past several months, its impact is being seen on many countries as well. Due to this, there has been an increase in the prices of petrol and diesel in India recently. After which there are speculations that soon the prices of LPG and other gas fertilizers may also increase. But in the meantime, the government has also given a latest update regarding this. The government has assured that there is ample storage of gas in the country.

Petroleum Ministry gave update
Looking at the situation in the country, Sujata Sharma, Joint Secretary of the Petroleum Ministry, has recently said that there is no shortage of oil, gas and anything else. During the recent inter-ministerial briefing, Sujata said, ‘It has been more than two and a half months since the West Asia crisis started, and the situation in the Strait of Hormuz is still not normal’.

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He further said, ‘As a result, there has been a huge increase in the prices of crude oil, natural gas and LPG in the international market. Due to all these reasons, our imports of crude oil, LPG and natural gas have also been affected. However, our refineries are operating normally, and we have adequate reserves of crude oil.

Update on availability of fertilizers
During this briefing, the Joint Secretary of DOF Department also informed about the situation of her department. He said, ‘It is informed by the Department of Fertilizers that for this season, i.e. Kharif season, the availability of fertilizers in the states remains more than 51% and about 200.98 LMT fertilizers are available in the entire country. There has been no major change in the MRP of major fertilizers. After the crisis period, domestic production has been quite high, i.e. 86.2 LMT, and imports of more than 22 LMT have reached our shores.

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On the gas crisis arising due to the Middle East war, the Central Government said that in the last two weeks, 1.25 lakh new connections have been given to PNG. Sujata Sharma, Joint Secretary, Ministry of Petroleum and Natural Gas, said that in the last 3 days, 5600 LPG customers shifted to PNG. He said that the Government of India is making every possible effort at every level to provide LPG to domestic customers, hence people should not pay attention to rumors and trust only the official information.

Situation worrying due to Middle East war: Government

Sujata Sharma said that in the case of commercial LPG, about 17 state governments have issued allotment orders and commercial LPG has been supplied to all the states and union territories. He said, ‘The situation remains worrying due to the Middle East war. However, there is no report of shortage of LPG at any distribution. Yesterday LPG online booking was Rs 56 lakh and supply was Rs 55 lakh. The delivery of LPG cylinders is going on normally.

Government took steps to stop black marketing

Joint Secretary, Ministry of Petroleum and Natural Gas said, ‘Yesterday, the Government of India has written another letter to all the state governments requesting them to take all necessary steps to stop black marketing and hoarding and take action under the law if violations are found. According to information received from state governments, control rooms have been set up in about 31 states and union territories. Apart from this, district level monitoring committees have also been constituted in about 25 states and union territories.

’15 states issued orders for kerosene allocation’

Sujata Sharma said, ‘About 15 states and union territories have issued orders for additional kerosene allocation. Bookings being done out of panic are decreasing. Around 57,000 refill bookings were received yesterday. The condition of crude oil and operation of refinery plants is normal. There has been no information about shortage of oil at retail pumps. All retail outlets are functioning normally. The supply of domestic crude oil and CNG for transportation is 100 percent assured without any cut.

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