All posts tagged: India refining sector

IndianOil says fuel supply remains adequate; shortages limited to isolated areas

IndianOil says fuel supply remains adequate; shortages limited to isolated areas

Indian Oil Corporation Ltd (IndianOil) on Saturday said there is no overall shortage of petrol or diesel across the country, even as some fuel stations in certain areas reported temporary supply disruptions. The state-run oil marketing company clarified that the issues being witnessed at select retail outlets are localised and short-term in nature, and that fuel stocks across most parts of the country remain stable. IndianOil says disruptions caused by local demand-supply imbalance In an official statement, IndianOil said the temporary supply pressure at some outlets was due to local demand-supply imbalances and shifting customer patterns in certain regions. The company stated that a seasonal increase in diesel demand during the harvesting period has led to higher fuel consumption in several areas. It also pointed to a temporary shift in customers from private fuel pumps to public sector outlets because of comparatively higher retail prices at some private stations. According to the company, institutional and commercial buyers have also increasingly turned to public sector fuel stations as bulk fuel supplies are currently priced higher in …