Mumbai: Bharat Petroleum Corporation Limited Marketing Director Sukhmal Kumar Jain has assured that there is no shortage of petrol or diesel in the country.
Speaking to IANS, Jain said public sector oil marketing companies are fully handling fuel demand and supply across India.
PSU Companies Dominate Fuel Network
Jain said government-owned oil companies operate nearly 85,000 fuel stations out of around one lakh petrol pumps in the country.
Because of this large network, public sector companies are able to ensure continuous fuel availability for consumers.
He added that while a few isolated cases of local supply issues may happen due to other reasons, there is no overall shortage of fuel in the country.
Global Oil Market Remains Volatile
The BPCL executive said the global energy market is currently highly volatile.
According to him, crude oil prices, shipping charges, insurance costs and currency fluctuations are creating additional pressure on oil companies.
He explained that these factors have increased the operational burden for oil marketing companies in recent months.
Rupee Weakness Increasing Pressure
Jain said the weakening rupee is also adding to the challenges faced by oil firms.
He noted that exchange rates, which were earlier around 89-90 against the dollar, have now moved closer to 96.
A weaker rupee makes crude oil imports more expensive for Indian companies because oil purchases are largely done in US dollars.
Oil Companies Facing Heavy Losses
Due to rising global costs and currency pressure, oil marketing companies are currently absorbing major financial losses.
Jain said PSU oil firms are facing losses of nearly Rs 600 crore to Rs 700 crore every day.
Despite the financial pressure, public sector oil companies are continuing to maintain uninterrupted fuel supply throughout the country.
Supply Situation Remains Stable
The statement comes at a time when concerns about fuel availability have emerged in some areas.
However, BPCL has clarified that the overall fuel supply situation remains stable and under control.
