BPCL, IOCL dismiss petrol and diesel shortage rumours, say supply chains operating normally

New Delhi, March 6 (IANS) PSU oil marketing companies Bharat Petroleum Corporation Ltd (BPCL) and the Indian Oil Corporation Ltd (IOCL) on Friday dismissed rumours of shortages of fuel -- petrol and diesel -- in certain areas, calling them "completely unfounded" and "baseless". 

In a post on its X handle, BPCL said India’s energy supply remains reliable and resilient, with ample petroleum reserves and uninterrupted supply chains.

"There have been some rumours about shortages of petrol and diesel in certain areas, which are completely unfounded," it said.

India's energy supply remains reliable and resilient, and there is no reason to be alarmed about fuel availability, it said.

"BPCL is fully operational and steadfast in ensuring a smooth fuel supply for all customers," it added.

Meanwhile, IOCL said: "Reports on social media suggesting a shortage of petrol and diesel are baseless. India has sufficient fuel stocks, and supply and distribution networks are functioning normally."

"IndianOil is committed to maintaining uninterrupted fuel supply across the country. Citizens are requested not to panic or crowd fuel stations and to rely only on official sources for accurate information", it said on its X handle.

Earlier, government sources said India currently maintains around 25 days of crude oil reserves and 25 days of petroleum products, including shipments in transit to the country’s ports. This keeps the nation in a "reasonably comfortable" position despite recent disruptions in the Strait of Hormuz following the Iran conflict.

Oil marketing companies, including Indian Oil, BPCL, and Hindustan Petroleum, have sufficient supplies for several weeks and continue to receive shipments from multiple routes.

The government has also directed OMCs not to export petroleum products to further bolster buffer stocks.

Strategic storage facilities across the country add to this resilience: Pudur has a capacity of 2.25 million metric tonnes (MMT), Visakhapatnam 1.33 MMT, and Mangaluru 1.5 MMT. Another coastal facility at Chandikhol is under construction.

BPCL and the government emphasised that there is no reason for public alarm.

India imports over 85 per cent of its crude oil, with roughly half historically sourced from Middle Eastern countries.

However, the country has diversified its supply sources in recent years, increasing imports from Africa, Russia, and the United States, while strengthening energy security through strategic reserves.