Is there petrol and diesel shortage in India amid the US-Iran conflict? Oil companies issue clarification, saying 'India has sufficient…'
Indian oil companies such as Bharat Petroleum Corporation Limited (BPCL), Hindustan Petroleum Corporation Limited (HPCL), and Indian Oil Corporation Limited on Wednesday said that these rumours are baseless.
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New Delhi: In a major development, oil companies in India on Wednesday dismissed rumours of petrol and diesel shortages, stating that the country has adequate reserves. The statement comes at a time when disruptions in global energy supplies and the US-Iran conflict have prompted strict measures amid concerns over fuel and gas shortages. The attack on Iran by Israel and the United States on February 28 has triggered a conflict that has affected not only the Gulf region but the entire world. As a result, the key maritime route, the Strait of Hormuz, has been almost completely shut. Following Iran's retaliation, the movement of fuel-carrying vessels through the strait has nearly come to a halt.
Owing to the Strait of Hormuz disruptions, the tankers carrying gas and crude oil have begun to face delays or are getting stranded. Questions are increasingly being raised about what steps the government will take to deal with this global crisis. There is a set of people who have even expressed concerns that measures similar to a lockdown might have to be implemented.
"Rumours are baseless"
Indian oil companies such as Bharat Petroleum Corporation Limited (BPCL), Hindustan Petroleum Corporation Limited (HPCL), and Indian Oil Corporation Limited on Wednesday said that these rumours are baseless.
What did Bharat Petroleum say?
The rumours of petrol and diesel shortages are completely unfounded, BPCL stated. It is important to note that India has sufficient fuel reserves, and supply chains are operating normally. It added that it is fully operational and committed to ensuring uninterrupted fuel supply.
What did Hindustan Petroleum say?
Hindustan Petroleum Corporation Limited (HPCL) made a similar statement, assuring customers that there is no shortage of petrol, diesel, or LPG across the country. HPCL said, "Dear customers, there is no shortage of petrol, diesel, or LPG across the country. Fuel supply remains stable, and adequate stocks are available. Customers are advised not to be misled by rumours or resort to panic buying. Please continue your normal consumption. HPCL is committed to ensuring smooth and uninterrupted fuel supply across its entire network."
Prime Minister Narendra Modi, in his recent address in Parliament, had highlighted the strong possibility of adverse impacts due to the ongoing conflict. He also described the disruption in global energy supplies caused by the fighting in the oil-rich Gulf region as having "serious consequences."
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