Oil companies assure stable fuel supply, dismiss shortage rumours amid tensions
Amid growing concerns linked to ongoing geopolitical tensions in West Asia, India’s state-run oil marketing companies have clarified that there is no shortage of petrol or diesel across the country. They have also urged consumers to refrain from panic buying, stating that supply chains remain stable and fuel availability is adequate.
Public sector companies including Indian Oil Corporation, Bharat Petroleum Corporation Limited and Hindustan Petroleum Corporation Limited have issued statements dismissing reports of fuel shortages. According to these companies, retail fuel outlets are functioning normally and inventories are sufficient to meet current demand.
The clarification comes at a time when global energy markets are witnessing uncertainty due to the ongoing conflict in West Asia, now entering its fourth week. Movement of oil shipments through the Strait of Hormuz has been impacted, raising concerns over potential supply disruptions. However, Indian oil companies maintain that domestic supply remains unaffected.
Officials highlighted that India continues to rely on a diversified sourcing strategy, importing crude oil from over 40 countries. This approach has helped mitigate risks associated with regional disruptions and ensures continuity in fuel supply.
Fuel prices, meanwhile, have remained largely stable. As of March 26, petrol in New Delhi is priced at Rs. 94.77 per litre, while diesel costs Rs. 87.67 per litre. In Mumbai, petrol is retailing at Rs. 103.50 per litre and diesel at Rs. 90.03. While prices of regular fuels have not seen recent changes, there has been a marginal increase in premium petrol and industrial diesel rates in the past week.
Oil companies reiterated that rumours of shortages can lead to unnecessary pressure on supply systems and advised consumers to continue purchasing fuel as per normal requirements.
