The global energy crisis is deepening due to increasing tensions in the Middle East. However, the Indian government is continuously working on alternative measures to deal with this situation. Meanwhile, in view of the rumors and panic spreading among the public, government oil companies have clarified that there is no shortage of petrol, diesel or LPG in the country.
India’s largest oil company, Indian Oil Corporation (IOC), has said that there is adequate stock of fuel at all petrol pumps and they are functioning completely normally. The company has appealed to the public not to pay attention to the rumors spreading on social media and avoid unnecessary panic buying of fuel. According to the IOC, such rumors not only raise concerns but can also disrupt the supply chain.
Appeal of oil companies
Similarly, Bharat Petroleum Corporation Limited (BPCL) has termed the reports of fuel shortage in some areas as completely baseless. The company says that India is a net exporter of petrol and diesel and has adequate reserves of crude oil, petrol, diesel and aviation turbine fuel (ATF). The supply chain is also working completely smoothly.
Hindustan Petroleum Corporation Limited (HPCL) has also given similar assurance, confirming that there is no shortage of fuel in the country and the supply remains stable. The company has urged customers to maintain their normal consumption patterns and not be influenced by rumours.
There is no shortage of petrol and diesel
However, the ongoing conflict in West Asia has impacted global supplies, particularly with respect to LNG and LPG. There have been some disruptions in LNG supplies due to disruptions at gas facilities at major suppliers such as Qatar. As a result, priority is currently being given to domestic consumers and the CNG sector, while supplies to industrial sectors such as fertilizer manufacturing have been cut.
LPG has been hit the hardest by the crisis, as India imports about 60% of its total requirement—a major part of which comes from the Gulf countries. Given the current situation, the government has given priority to domestic LPG and limited the supply of LPG for commercial use such as hotels and restaurants.
