New Delhi, May 23: Indian Oil Corporation (IOC) on Saturday said there is no nationwide shortage of petrol or diesel and clarified that supply disruptions reported at some retail outlets are localised and temporary.
In a statement, the state-run fuel retailer said the isolated outages stem from regional demand-supply mismatches and changing sales patterns in select markets.
IOC said it is closely monitoring the situation and taking corrective measures to address these temporary disruptions while ensuring uninterrupted fuel availability.
“We wish to reassure customers and the general public that there is no overall shortage of petrol and diesel in the country. The current situation being witnessed at certain retail outlets is highly localised and temporary in nature,” the company said.
According to IOC, higher demand at some fuel stations has been driven by seasonal growth in diesel consumption during the harvesting period and migration of consumers from private fuel retailers where prices are relatively higher.
The company also pointed to increased institutional and commercial purchases at public sector retail outlets as an additional factor contributing to pressure on selected fuel stations.
IOC said only a small number of outlets within its network of more than 42,000 fuel stations have experienced supply interruptions, while fuel availability at the majority of retail outlets remains stable and adequate.
The company said state-owned oil marketing firms continue to maintain sufficient fuel inventories across the country and are actively addressing isolated supply gaps.
“Despite this sustained and exceptionally high growth in demand, IndianOil continues to consistently meet customer requirements across the country,” the statement added.
The clarification comes as state-owned oil marketing companies revised fuel prices upward earlier on Saturday, marking the third retail fuel price increase within 10 days.
Petrol prices were increased by Rs 0.87 per litre and diesel by Rs 0.91 per litre amid continued pressure from rising international crude oil prices and geopolitical tensions in West Asia.
