Russia oil supplies stable, no shortage of Petrol, Diesel and LPG in India: OMC
&imwidth=600&imheight=450&format=webp&quality=medium "Russia oil supplies stable, no shortage of Petrol, Diesel and LPG in India: OMC")
Representative image. Photograph: (Unsplash)
Fuel station sales are surging due to higher diesel demand during the harvesting season. Additionally, more consumers are choosing state-run retailers over private oil marketing companies, which are currently charging higher prices for their fuel.
There has been no decline in crude oil imports from Russia, and India is not facing a shortage of petrol, diesel or LPG, sources in the oil marketing company (OMC) told ANI on Thursday (May 21). This comes amid concerns over possible global supply disruptions triggered by escalating tensions in West Asia. The sources added that India continues to maintain a surplus of petroleum products, while some retail outlets are witnessing higher fuel sales due to seasonal demand and market-driven pricing changes.
"There is no shortage of petrol/diesel/LPG as India is a net exporter and surplus in petroleum products," OMC sources said. On crude oil imports, the sources said supplies from Russia remain stable despite global geopolitical tensions. "There is no reduction in crude oil coming from Russia," the sources said.
According to the sources, the spike in sales at certain fuel stations is being fuelled by several factors, including increased diesel consumption during the harvesting season. They also noted that more consumers are turning to state-run fuel retailers as some private oil marketing companies are charging higher prices for fuel.
"There is also a shift from private OMCs who are retailing at a Rs 5 per litre higher price," the sources added. It noted that the migration of institutional and commercial buyers is another reason behind the increase in sales at public sector fuel stations, where fuel prices are higher due to alignment with international rates.
"There is also a shift from institutional/commercial sales, which are priced around Rs 20 per litre higher than the actual international price," the sources also said.
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Indian Oil Corporation Ltd (IOCL) on fuel availability
Meanwhile, Indian Oil Corporation Ltd (IOCL) assured that its supply locations and field teams are consistently working to ensure the availability of adequate fuel across the country amid the rise in demand at retail outlets. "Our supply locations and ground teams are working tirelessly in close coordination to ensure sufficient product availability at our retail outlets in the country. We urge customers to refuel their vehicles as per normal requirement," IOCL said in a post on X.
The company stated that it remains firm in maintaining continuous fuel supplies despite pressure on logistics due to a transformation in demand patterns. "We are committed to maintaining smooth supply chain logistics for Petrol & Diesel. However, with the increase in demand due to the shift from Commercial Sales & Private Petrol Pumps to Retail Outlets, pressure on the logistics has occurred, which our team is trying to address," the company said. IOCL also requested consumers not to panic while buying and asked them to fuel their vehicles based on their normal requirement.
