The Centre on Wednesday once again reiterated that India has “sufficient crude oil reserves” and there is no immediate concern regarding fuel availability. The reiteration came amid concerns in the country as global oil prices remain volatile due to the US-Israel war on Iran.
Addressing the situation, Sujata Sharma, Joint Secretary at the Ministry of Petroleum and Natural Gas, said the government has already made arrangements to ensure steady crude supply for the coming weeks.
Refineries running smoothly, no shortage reported
Sharma said, “As you are all aware, our crude inventory is sufficient, and the Government of India has made arrangements to ensure adequate crude supply for the next two months.”
She further added, “Our refineries are operating at optimal capacity, and no instances of fuel shortages have been reported at retail outlets. In this context, I would also like to highlight that about two months ago, Brent crude was trading in the range of around $70 per barrel, whereas today it has crossed $100 per barrel. Despite this increase, there has been no rise in petrol and diesel prices for domestic consumers.”
Officials emphasised that domestic fuel supply chains remain stable, with refineries functioning at full capacity to meet demand across the country.
Govt imposes export levy, urges public to avoid panic buying
“To ensure adequate availability of ATF and diesel in the domestic market, the Government of India has also imposed an export levy…I would like to inform everyone that we have sufficient quantities of petrol and diesel available,” She added.
She also said, “I would also like to humbly appeal to all citizens to please avoid panic buying.”
The government’s reassurance comes amid rising global crude prices, with authorities highlighting proactive measures to maintain supply and prevent any disruption in the domestic market.