Former Marketing Director of Bharat Petroleum Corporation Limited, Sukhmal Kumar Jain, stated that there is no shortage of petrol or diesel in the country. He emphasized that public sector oil marketing companies are effectively managing fuel consumption and supply. Jain highlighted that these companies operate around 85,000 retail outlets out of nearly one lakh fuel stations nationwide, ensuring consistent fuel availability.
Jain expressed confidence in the management of fuel consumption by public sector oil marketing companies, stating that there is no shortage. He acknowledged that while there might be isolated cases due to various reasons, overall, the fuel supply remains stable. Jain emphasized that the public sector oil marketing companies play a significant role in meeting the country’s fuel demands.
Addressing the current market scenario, Jain pointed out the volatility of global crude oil prices and associated costs. He highlighted the impact of fluctuating shipping costs, insurance expenses, and exchange rate variations on oil companies. Jain emphasized the challenges posed by the dynamic nature of these factors on the operations of oil marketing companies.
Jain underscored the financial challenges faced by oil companies due to the fluctuating exchange rates, which have increased from around 89–90 to approximately 96. He mentioned that these factors collectively contribute to daily losses ranging from Rs 600 crore to Rs 700 crore for oil companies. Despite the financial pressures, Jain reassured that public sector oil companies are committed to ensuring uninterrupted fuel supply throughout the country.
