Government Advises Against Panic Buying of Fuel as Supplies Remain Steady
Synopsis
Key Takeaways
New Delhi, March 13 (NationPress) The Central Government has urged consumers to refrain from panic buying of petrol, diesel, and LPG, assuring the public that ample supplies are readily available nationwide.
According to a senior official from the Ministry of Petroleum and Natural Gas, there have been no reports of fuel shortages at any of the 100,000 retail outlets managed by Oil Marketing Companies. Sufficient stocks of petrol and diesel are present, with regular supplies being delivered.
The official emphasized that India possesses a refining capacity of approximately 258 MMTPA and ranks as the fourth-largest refining hub globally. The nation is self-sufficient in petrol and diesel production, eliminating the need for imports to satisfy domestic demand. Currently, all refineries are operating at optimal levels, with some exceeding 100 percent capacity.
Moreover, Indian refineries are maintaining adequate crude oil inventories, with supplies being consistently sourced through varied import channels and shipping routes.
The official provided insights to the media regarding the current energy supply situation and the measures being implemented to ensure the uninterrupted availability of petroleum products and LPG, despite concerns stemming from the ongoing geopolitical climate and the closure of the Hormuz Strait.
On March 9, the Government enacted a Natural Gas Control Order under the Essential Commodities Act, mandating a 100 percent supply of PNG and CNG without any reductions. Hence, there is no reason for panic, and supply to industrial and commercial consumers is regulated at 80 percent, the official clarified.
Currently, around 3.73 MMSCM of gas is consumed daily in the Domestic PNG sector, with sufficient gas supply available across various regions.
More than 15 million PNG households in India are receiving natural gas for their domestic needs and will continue to do so without disruption. In light of the geopolitical situation, it is recommended to promote the usage of domestically supplied PNG for residential consumers to conserve LPG cylinders, which may be redirected to other consumer areas lacking PNG connectivity, the official noted.
To mitigate supply issues concerning LPG, the government is coordinating with various City Gas Distribution (CGD) companies authorized in major urban centers to promptly provide new PNG connections to affected commercial and industrial consumers. Interested commercial and industrial users can reach out to their local city gas distribution company for a new connection.