Fuel supply remains adequate across country, shortages localised and temporary: IndianOil

Indian Oil Corporation Ltd IndianOil on Saturday said there is no overall shortage of petrol or diesel across the country even as some fuel stations in certain areas reported temporary supply disruptionsThe staterun oil marketing company clarified that the issues being witnessed at select retail outlets are localised and shortterm in nature and that fuel stocks across most parts of the country remain stableIndianOil says disruptions caused by local demandsupply imbalanceIn an official statement IndianOil said the temporary supply pressure at some outlets was due to local demandsupply imbalances and shifting customer patterns in certain regionsThe company stated that a seasonal increase in diesel demand during the harvesting period has led to higher fuel consumption in several areasIt also pointed to a temporary shift in customers from private fuel pumps to public sector outlets because of comparatively higher retail prices at some private stationsAccording to the company institutional and commercial buyers have also increasingly turned to public sector fuel stations as bulk fuel supplies are currently priced higher in line with global market trendsFuel sales witness sharp rise in MayIndianOil said it recorded a significant rise in fuel sales between May 1 and May 22 compared to the same period last yearDuring this period petrol sales increased by 14 per cent while diesel sales rose by around 18 per cent reflecting stronger consumption and higher demand across several regionsOfficials said the sudden increase in sales at certain outlets created temporary pressure on local distribution systems though the overall national supply network remains stableCompany says majority of fuel stations functioning normallyIndianOil operates a network of more than 42000 fuel stations across the country and said supply disruptions have been reported only at a very small number of outletsThe company maintained that fuel availability and stock levels remain normal and adequate at the majority of retail stations nationwideIt added that IndianOil along with other oil marketing companies is continuously monitoring the situation and coordinating distribution to avoid any major disruption in suppliesAppeal against panic buyingThe company urged consumers not to engage in panic buying stating that there is sufficient availability of petrol and diesel across the countryIndianOil said it remains committed to ensuring uninterrupted fuel supplies and is taking all necessary steps to stabilise distribution wherever temporary shortages have emergedThe statement comes amid recent increases in petrol and diesel prices across India following a rise in global crude oil prices and geopolitical tensions in West AsiaFuel prices have been revised upward multiple times over the past few days leading to increased demand at public sector fuel pumps in several citiesRising demand linked to global energy situationOil companies have attributed the recent fuel price revisions to volatility in international energy markets and elevated crude oil pricesIndustry experts said rising global oil prices combined with strong domestic demand have contributed to pressure on fuel supply chains in some regionsHowever IndianOil reiterated that the current supply situation remains under control and that disruptions are limited to isolated pockets rather than being part of a nationwide shortageWith inputs from Agencies