New Delhi: Amid reports of panic buying and long queues at petrol pumps and LPG distributors, the Government of India on Thursday assured that the country has about 60 days of oil stock cover and has arranged one full month of LPG supply. The government appealed to people to not believe in rumors of fuel shortages, saying there there is no shortage of petrol, diesel, or LPG. It said reports of shortages as a “deliberate misinformation campaign” aimed at triggering panic buying.
To allay the fears of alleged fuel shortages, the Ministry of Petroleum and Natural Gas, for the first time since the US-Israel and Iran war broke out, released stock details of crude oil, fuels and LPG as it rushed to calm nerves.
“All 1 lakh-plus retail fuel outlets across the country are open and dispensing fuel without interruption. Not a single outlet has been asked to ration supply. Every Indian refinery is running at over 100% utilisation. Crude oil supplies for next 60 days have already been tied up by Indian Oil companies. There is NO supply gap,” the ministry said in a release.
The ministry urged the citizens not to be “misled by a deliberately mischievous, coordinated campaign of misinformation that is being carried out to spread unjustified panic.”
Govt on LPG supply
On LPG, the government informed that 800,000 tonnes of LPG cargoes have been secured and one full month of supply is firmly arranged. Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPCL) and Hindustan Petroleum Corporation Ltd (HPCL) have also released statements, assuring people that their petrol pumps were operating normally and there was no shortage.
India, it said, has 74 days of total crude oil and fuel stocking capacity.
“Actual stock cover is around 60 days right now (including crude stocks, products stocks and the dedicated strategic storage in caverns) even as we are on the 27th day of the Middle East crisis.”
“Nearly two months of steady supply is available for every Indian citizen regardless of what happens globally,” the Ministry of Petroleum and Natural Gas said in a statement.
“Any representation that India’s reserves are depleted or insufficient should be dismissed with the disdain it deserves,” the ministry categorically stated.
The ministry also assured that the crude supplies remain stable despite tensions around the Strait of Hormuz.
The ministry further stated that reports which are claiming that PNG is being pushed because of LPG shortage is completely false. “LPG supply is secure. PNG is simply a better, more affordable and highly convenient fuel for India’s households,” the statement said.
With PTI inputs