New Delhi, May 21: The government on Thursday said there is no shortage of petrol, diesel or LPG in the country and warned that petrol pumps restricting fuel sales or supplying reduced quantities are being closely monitored and pulled up.
Senior government officials said fuel supplies to retail outlets across India remain stable and authorities are continuously monitoring the situation through regular feedback from petrol pumps nationwide.
Officials also clarified that there has been no reduction in crude oil imports from Russia, ensuring adequate supplies to domestic refineries operated by oil marketing companies.
According to officials, higher fuel sales at certain retail outlets have been driven by increased diesel demand during the harvesting season and a shift in consumer preference towards public sector fuel retailers.
They said some customers have moved away from private oil marketing companies after higher pricing, resulting in increased footfall at public sector petrol pumps.
In addition, institutional and commercial fuel demand, where prices are reportedly around Rs 20 higher in line with international rates, has also shifted towards retail petrol outlets, officials added.
The government further highlighted that India’s recent Rs 3.91 per litre increase in petrol and diesel prices translates into a 4.4 per cent rise, which officials said remains among the lowest price hikes recorded by major economies outside subsidised Gulf oil producers.
An IndianOil official noted that the Rs 3.91 per litre increase only partially reflects the surge in international crude oil prices and follows 76 days during which public sector oil marketing companies absorbed rising fuel costs.
The official said global fuel markets have witnessed significantly sharper retail price adjustments, with many countries passing on crude oil volatility through hikes ranging from 10 to 90 per cent.
According to compiled international fuel price data, petrol prices in Pakistan have risen about 55 per cent over the past three months, while increases of around 56 per cent in Malaysia and 52 per cent in the United Arab Emirates have also been recorded.
In advanced economies, fuel prices have likewise increased substantially. Petrol prices in the United States have risen close to 45 per cent and diesel by 48 per cent, reflecting relatively lower tax cushioning.
Across Europe, petrol prices are up around 19 per cent in the United Kingdom, 14 per cent in Germany and 21 per cent in France, while diesel price increases have been steeper.
Meanwhile, Japan, South Korea and Singapore have managed to limit petrol price increases to below 20 per cent, although diesel prices have risen sharply, including a 65 per cent jump in Singapore, officials noted.
