India’s fuel supply management has remained stable despite global disruptions, according to Raj Kumar Dubey, former Chairman of Indraprastha Gas Limited (IGL) and former Director (HR) of Bharat Petroleum Corporation Limited (BPCL). Dubey highlighted that while there have been concerns regarding LPG, India has not faced shortages of fuel, petrol, or diesel. He mentioned a projected under-recovery of around Rs 30,000 crore per month due to the rise in global crude prices.
Crude prices have surged by 35 to 40 percent, with the potential for further increases, leading to adjustments in petroleum product prices globally. Dubey emphasized the role of policymakers in determining the extent of price hikes necessary. He commended the Indian government for its efforts to shield ordinary citizens from the impact of temporary price spikes, noting that several countries have already raised fuel prices.
Despite the challenges, Dubey praised India’s management of the situation, especially considering that over 85 percent of the country’s crude oil is imported. He cited examples like the United States, where petrol and diesel prices have also risen. Earlier in May, major state-run oil marketing companies reassured the public about the stability of petrol, diesel, and LPG supplies nationwide, cautioning against relying on misinformation circulating on social media regarding fuel shortages.
