New Delhi, May 23 (IANS). Indian Oil Corporation (IOC) said on Saturday that there is no overall shortage of petrol and diesel in the country. The problems in supply that have come to light at some petrol pumps are ‘local and temporary’.
The IOC said in a statement that these minor problems were caused by the imbalance of demand and supply in some areas and changing patterns of sales. The company is continuously monitoring the situation and taking necessary steps to resolve these various issues, so that customers continue to get fuel without interruption.
“We wish to assure customers and the general public that there is no overall shortage of petrol and diesel in the country. The situation being witnessed at some retail outlets is purely local and temporary. This is due to demand-supply imbalance and changed sales patterns in some areas,” the statement said.
According to IOC, the increase in demand at some petrol pumps was due to the increase in seasonal demand for diesel, which was seen during the harvesting season. Additionally, due to relatively high fuel prices at private petrol pumps, customers shifted to government pumps. Institutional purchasing at public sector pumps has also increased.
The company said supply has been disrupted only at a very small number of outlets in its network of over 42,000 petrol pumps, while stocks and supplies at most pumps remain normal and adequate.
Government oil marketing companies are maintaining adequate fuel reserves across the country and are continuously taking steps to overcome the bottlenecks at different places, so that the supply continues without interruption.
“Despite the sustained and extraordinary growth in demand, Indian Oil continues to meet the needs of customers across the country,” IOC said.
Earlier on Saturday, the prices of petrol and diesel were increased again. This is the third time in the last 10 days that retail fuel rates have been changed.
Government oil companies increased the price of petrol by 87 paise per liter and diesel by 91 paise per liter. This increase has been made due to the rise in global crude oil prices and the ongoing geopolitical tension in West Asia, which is impacting the international energy market.
–IANS
DBP
