Amid concerns over fuel availability and rising prices, the government on Thursday asserted that there is no shortage of petrol, diesel or LPG across the country. The government also warned that petrol pumps restricting sales or supplying fuel in reduced quantities are being strictly monitored and pulled up by authorities.
Talking to the media, the senior government officials said the Centre has been receiving continuous feedback from retail outlets across India and maintaining uninterrupted fuel supplies to ensure normal operations. They also clarified that crude oil imports from Russia have not been reduced, helping oil marketing companies maintain adequate refinery operations and stable fuel availability.
The reassurance comes at a time when several regions have witnessed increased demand for diesel during the harvesting season, leading to higher sales volumes at some retail outlets. Officials said another factor behind the surge is the shift of consumers from private fuel retailers to public sector oil company pumps after some private operators raised prices.
According to officials, institutional and commercial buyers have also moved towards regular retail pumps because commercial fuel rates are currently around Rs 20 higher due to international pricing trends.
Government officials further defended the recent Rs 3.91 per litre increase in petrol and diesel prices, stating that India’s price rise remains among the lowest globally outside heavily subsidised Gulf economies such as Saudi Arabia.
An IndianOil official said the latest revision only partially offsets the increase in global crude oil prices and was implemented after public sector oil companies absorbed rising costs for 76 consecutive days without passing the burden on to consumers.
Fuel price hikes in other countries
Officials pointed out that several countries have witnessed much steeper fuel price increases due to global crude volatility and supply disruptions linked to international markets and freight costs.
Petrol prices in Pakistan have surged by nearly 55 per cent over the last three months, while Malaysia has recorded a rise of around 56 per cent. Fuel prices in the United Arab Emirates have also climbed by over 50 per cent during the same period.
In the United States, where retail fuel prices react quickly to crude oil fluctuations, petrol prices have risen by nearly 45 per cent and diesel by around 48 per cent, officials noted.
European nations have also seen significant increases. Petrol prices in the United Kingdom have gone up by around 19 per cent, while diesel prices have risen by nearly 34 per cent. Germany and France have also reported substantial hikes in both fuels.
Officials added that countries such as Japan, South Korea and Singapore have managed relatively lower increases in petrol prices, although diesel rates in Singapore have jumped sharply by nearly 65 per cent.