Centre assures of no fuel shortage, after PM Modi's conservation appeal

A day after Prime Minister Narendra Modi urged people to reduce fuel consumption by using public transport and carpooling, the Centre on Monday (May 11) assured that there were no fuel shortages in the country, adding that India’s crude oil reserves are well maintained.

Addressing an inter-ministerial briefing, Sujata Sharma, Joint Secretary for the Ministry of Petroleum and Natural Gas, reiterated PM Modi’s appeal to the public, adding that the government, with several of its measures have strived to ensure that the common consumers get access to an uninterrupted fuel supply with minimal difficulty.

Reiterates PM’s call for fuel conservation

"I would like to convey to you that the Prime Minister has urged all citizens of the country to reduce their consumption of petrol and diesel. Wherever possible, utilise the Metro and public transportation; opt for carpooling; prioritise railways as a mode of transportation for goods; and wherever feasible, increase the usage of electric vehicles. Let us all come together and make every possible effort to conserve energy in our daily lives, so that the economic burden currently weighing upon the nation may be alleviated,” said Sharma.

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"The Government of India has taken several effective measures and has strived to ensure that fuel supplies are maintained for the common consumer with minimal inconvenience. As a result of all these steps taken, our crude oil inventory remains well-maintained, as quoted by the Times of India.

The official further stated Indian refineries were functioning at optimum levels and there had been no reports of any dry outs at any retail outlets. She said that there have not been any dry outs at LPG distributorships, adding that adequate fuel stocks were available.

Supply status and stock position

"Our refineries are operating at optimum levels. There are no instances of dry-outs at any retail outlets. Nor have any dry-outs been reported at LPG distributorships,” said Sharma.

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“Adequate stocks of petrol and diesel are available, and LPG supplies for domestic cooking purposes are being maintained. Over the past three days, 1 crore 26 lakh LPG cylinders have been delivered to households against 1 crore 14 lakh bookings. Similarly, sales of commercial LPG have exceeded 17,000 tonnes over the last three days. Sales of Auto LPG have also surpassed 762 tonnes,” she added.

During the briefing, Opesh Kumar Sharma, Director for the Ministry of Ports, Shipping and Waterways, clarified that India paid no tax for the passage of its ships through the contested Strait of Hormuz.

Pressure on State oil firms

Even as the government maintained that fuel supplies remain stable across the country and crude inventories are being adequately managed, state-run oil marketing companies have continued to absorb mounting financial pressure to shield domestic consumers from the sharp rise in international fuel prices triggered by the ongoing conflict in the Middle East.

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According to sources cited by PTI, the cumulative losses borne by public sector oil retailers have crossed Rs 1 lakh crore over the last 10 weeks as retail prices continued to be moderated despite sustained volatility in global energy markets.

The three state-owned fuel marketing companies, Indian Oil Corporation, Bharat Petroleum Corporation Limited, and Hindustan Petroleum Corporation Limited, are presently facing combined under-recoveries estimated to be in the range of Rs 1,600 crore to Rs 1,700 crore per day, stated the report.

The government further stated that, as of now, no relief package has been announced for the three public sector companies.

(With agency inputs)