Indian Oil Corporation (IOC) stated that the reported petrol and diesel outages at some retail outlets are localized and temporary, attributed to regional demand-supply imbalances and changing sales patterns. The company is actively managing the situation to ensure uninterrupted fuel supply to consumers. IOC emphasized that there is no widespread shortage of petrol and diesel in the country, with the current issues being specific to certain areas.
The surge in demand at select outlets is linked to seasonal spikes in diesel usage during the harvesting period, customer migration from higher-priced private pumps, and increased institutional buying at public sector stations. While a few fuel stations experienced disruptions, the majority of IOC’s 42,000+ outlets maintained normal and sufficient stocks. State-owned oil marketing firms are maintaining ample fuel inventories nationwide to address any localized disruptions promptly.
Despite the recent hike in petrol and diesel prices, marking the third increase in rates within 10 days, IOC reassures customers of meeting fuel demands across India. Petrol prices rose by Rs 0.87 per litre, while diesel prices saw a Rs 0.91 per litre increase by state-owned oil companies. Global crude oil price surges and geopolitical tensions in West Asia are contributing factors to the ongoing fluctuations in fuel rates.
