IOCL assures stable fuel supply amid Middle East conflict

Indian Oil Corporation Limited (IOCL) on Tuesday assured that supplies of petrol and diesel remain stable in the country despite ongoing supplies triggered by the Middle East conflict. Speaking at a press conference, Ashutosh Gupta, Executive Director and State Head, IOCL Punjab State Office, said the company currently holds sufficient reserves across Punjab, Himachal Pradesh, Jammu & Kashmir, Ladakh and Chandigarh, both at depots and retail outlets. "There is absolutely no shortage of petrol and diesel, there is no shortage of transport fuel at all... at our depots and terminals as of date, we have got a stock of 12 days petrol, and diesel is about 16 days," he said. Gupta indicated that fuel availability at petrol pumps is also well within comfortable levels, dismissing any immediate concerns among consumers. "At our retail outlets as of date, we have got a petrol stock of about 13 days and diesel of about 6 days... absolutely no reason for any concern on the petrol and diesel side," Gupta noted. The statement comes against the backdrop of volatility in global energy markets amid geopolitical tensions in West Asia, a key source of India's fuel imports. On liquefied petroleum gas (LPG), Gupta said supply remains steady, though delivery timelines have stretched due to a surge in bookings, which he attributed to precautionary demand from consumers. "The domestic LPG supplies have been normal... however, because of the conflict... There has been an increase in the bookings, and ultimately, resulting in the booking period to delivery period has increased," he said. He added that delivery times have risen from around two days to roughly six days at present. Highlighting India's dependence on imports for LPG, Gupta said a majority of supplies are sourced externally. "India meets its LPG requirement, almost 60 per cent of that is made through imports and out of that 60 per cent imports, 90 per cent is sourced from the Middle Eastern countries," he said. Even so, he said supply chains continue to function smoothly with coordinated efforts between the Centre and state governments. Gupta also pointed out that domestic refineries, including those in Panipat and Bathinda, are meeting nearly 80 per cent of LPG demand in Punjab and Chandigarh. He added that priority distribution is being ensured for essential services such as hospitals, educational institutions and the pharmaceutical sector. In addition, IOCL has witnessed a rise in digital adoption for LPG bookings, which Gupta said has enhanced efficiency and transparency. "Digital bookings... were around 81 per cent... which has gone up to 93 per cent... today," he said. While global developments continue to pose logistical challenges, Gupta said ongoing coordination between oil companies and government authorities is helping maintain uninterrupted fuel supplies across the region.