No fuel shortage in country, PSU oil firms managing supply smoothly: BPCL Marketing Director
New Delhi, May 24
Amid concerns over fuel availability in some areas, Bharat Petroleum Corporation Limited Marketing Director Sukhmal Kumar Jain on Sunday said there is no shortage of petrol or diesel in the country, adding that public sector oil marketing companies are fully managing fuel consumption and supply.
Speaking exclusive to IANS, Jain said that public sector oil marketing companies (OMCs) operate around 85,000 retail outlets out of the nearly one lakh fuel stations across the country, ensuring steady fuel availability.
"I don't think there is any shortage because as far as the consumption part is concerned, it is being fully managed by the public sector oil marketing companies," he said.
"At least I can say that since they hold the larger share -- out of 1 lakh-odd retail outlets, around 85,000 are from public sector oil marketing companies," he added.
So stray cases may be there due to various other reasons, but otherwise there is no shortage, whatever I understand in this area, Jain told IANS.
Commenting on the current market situation, Jain said global crude oil prices and other associated costs remain highly volatile.
He noted that shipping costs, insurance expenses, and fluctuations in exchange rates have significantly impacted oil companies.
"See, again I'll put it this way -- the situation is very volatile, and there are various components. If you have really seen crude oil, then shipping costs, insurance, and even exchange rates, the way they have moved," he said.
According to Jain, exchange rates that were earlier around 89-90 are now hovering near 96, increasing the burden on oil marketing companies.
He said that due to the combined impact of these factors, oil companies are currently absorbing losses in the range of Rs 600 crore to Rs 700 crore per day.
Despite the pressure on margins, Jain maintained that PSU oil companies continue to ensure uninterrupted fuel supply across the country.
— IANS
Reader Comments
AC chahte hain, petrol sasta chahiye, fir bhi complain karte hain. Global volatility hai, exchange rate 89 se 96 ho gaya hai, shipping costs badh gaye hain. PSU companies Rs 600-700 crore daily loss absorb kar rahi hain, still no price hike. Salute to BPCL and other OMCs! 👏
Yes, overall availability is there, but "stray cases" affect real people. In rural areas, even one day of no diesel means farmers can't irrigate, transport gets stuck. The article should acknowledge that these exceptions aren't minor for those facing them. Still, appreciate the transparency from BPCL.
Bhai, bolne mein toh sab aasan hai. But when I went to fill petrol last Friday, there was a queue of 30+ vehicles and only one pump working. Stray cases nahi, systematic inefficiency hai. PSU monopoly should mean better service, not excuses. Kaam karo, gappe mat maaro! 😤
Interesting perspective. The fact that 85% of retail outlets are PSU-run is reassuring for supply stability. But why is India still so dependent on imported crude? We need to accelerate renewables and EV adoption, otherwise these volatility shocks will keep hitting us. Global factors se bachna hoga.
Rs 700 crore loss per day absorbing? That's huge. This is exactly why public sector is important - private companies would have hiked prices instantly. Government should consider reducing
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