Long queues were seen outside petrol pumps on Tuesday amid rumours of a fuel shortage in Pune. However, Dhruv Ruparel, president of the Petrol Dealers Association, Pune, has put these speculations to rest, stating that there is only a shortage of LPG and not of petrol and diesel.
Speaking to The Free Press Journal, Ruparel said, "There is a shortage of LPG, and people are speculating that there's a shortage of petrol and diesel as well. Rumours and misleading information are also spreading regarding shortages of petrol and diesel. However, there are no such shortages."
"We are in touch with oil companies and the Ministry of Petroleum and Natural Gas, and we are monitoring the situation closely. There’s nothing to panic about. Dealers generally maintain three days of stock. Presently, things are normal; there is no disturbance nor disruption," he added.
Meanwhile, it is being speculated that fuel prices could rise as international crude oil prices have risen sharply. Due to the conflict in West Asia, crude oil prices have gone from around $65–68 per barrel earlier to approximately $110–115 per barrel currently. However, government officials have stated that fuel companies can absorb losses until crude prices cross $130 per barrel.
“When crude prices were low in the international market, these companies made profits, and when crude prices were high, they would absorb the losses. Revision of petrol and diesel prices is unlikely in the foreseeable future,” The New Indian Express quoted an official as saying.
