No reduction in Russian crude supplies, no shortage of petrol and diesel in India: OMC sources
New Delhi, May 21
There has been no reduction in crude oil supplies coming from Russia and there is no shortage of petrol, diesel or LPG in the country, oil marketing company sources toldon Thursday, amid concerns over global supply disruptions due to rising tensions in West Asia.
OMC sources said India continues to remain surplus in petroleum products and is witnessing higher fuel sales at some retail outlets due to seasonal demand and pricing shifts in the market.
"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 added.
According to the sources, the rise in sales at some fuel stations is being driven by multiple factors, including higher diesel demand during the harvesting season.
"Spurt in sales in some pumps is because of harvesting season and higher diesel demand," the sources said.
The sources further said that consumers are also shifting towards state-run fuel retailers as some private oil marketing companies are selling fuel at higher prices.
"There is also a shift from private OMCs who are retailing at Rs 5 per litre higher price," the sources said.
The sources added that another reason behind the higher sales at public sector fuel stations is the migration of institutional and commercial buyers, where fuel prices are significantly 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 as per actual international price," the sources said.
Meanwhile, Indian Oil Corporation Ltd (IOCL) said its supply locations and field teams are working closely to ensure adequate fuel availability across the country amid the rise in demand at retail outlets.
"Our supply locations and ground teams are working tirelessly in close co-ordination 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 said it remains committed to maintaining uninterrupted fuel supplies despite pressure on logistics due to changing demand patterns.
"We are committed to maintain smooth supply chain logistics for Petrol & Diesel. However, with the increase in demand due to 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 urged consumers not to indulge in panic buying. "Customers are requested to fuel their vehicles as per normal requirement," the company added.
The clarification from OMC sources comes amid concerns over global crude oil supply disruptions due to rising tensions in West Asia, a key oil-producing region that accounts for a major share of global energy supplies. Crude oil prices have remained volatile in recent weeks as markets closely track geopolitical developments and possible disruptions in shipping routes such as the Strait of Hormuz.
— ANI
Reader Comments
Finally some clarity! I was getting worried seeing long queues at some IOCL pumps near my area in Bangalore. Turns out it's just seasonal demand and people shifting from expensive private pumps. Makes sense now. Also, our Russian crude imports are a masterstroke in diplomacy - keeping prices stable despite West Asia tensions.
Look, I appreciate the reassurance, but why does this always happen? We get these clarifications only after panic buying starts. The government should proactively communicate during harvest season or price shifts. Also, IOCL saying "pressure on logistics" needs to be taken seriously - we shouldn't wait for a crisis to fix supply chain issues. 🤔
As someone working in the energy sector, this is spot on. India's strategic diversification of crude sources (Russia, Iraq, Saudi Arabia) and our refining capacity means we're far more resilient than many think. But I do worry about the Strait of Hormuz - 20% of global oil passes through there. Hope we have contingency plans. 👍
I'm from Punjab and this harvest season diesel demand is real! Our kisans are working day and night. Glad to see the system is handling it well. But the Rs 20 per litre difference between retail and commercial rates is crazy - that's hurting our transport sector badly. Need better pricing policies for truckers and farmers.
People need to understand: India is a petrol/diesel exporter! We have surplus. But the panic is real because of social media rumors. I saw people filling extra cans in Chennai last week. Smart move by the government to keep Russian supplies flowing despite Western pressure. Our foreign policy is actually benefiting
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