Amid concerns about fuel availability in certain areas, Bharat Petroleum Corporation Limited Marketing Director Sukhmal Kumar Jain stated that there is no shortage of petrol or diesel in the country. Jain highlighted that public sector oil marketing companies are effectively managing fuel consumption and supply, operating approximately 85,000 retail outlets out of nearly one lakh fuel stations nationwide to ensure consistent availability.
Jain emphasized that the public sector oil marketing companies are efficiently handling the consumption aspect, with around 85,000 out of 1 lakh retail outlets being managed by them. He acknowledged that while there might be isolated cases due to various reasons, overall, there is no scarcity of fuel in the country.
Addressing the market scenario, Jain pointed out the high volatility of global crude oil prices and related costs. He mentioned that factors such as shipping expenses, insurance costs, and fluctuations in exchange rates have significantly impacted oil companies, leading to challenges in managing margins.
According to Jain, the current situation is marked by extreme volatility, with various components like crude oil prices, shipping expenses, insurance, and exchange rates playing crucial roles. He highlighted the burden on oil marketing companies due to the exchange rates, which have risen from around 89–90 to approximately 96, resulting in substantial daily losses ranging from Rs 600 crore to Rs 700 crore.
Despite facing margin pressures, Jain assured that PSU oil companies are committed to maintaining uninterrupted fuel supply throughout the country.
