Indian Petroleum Companies Debunk Fuel Shortage Claims Amid West Asia Conflict
New Delhi: As the West Asian conflict hits key energy facilities, impacting the oil supply market, fuel shortage rumours have started circulating on social media in India.
Bharat Petroleum Corporation Limited (BPCL) and Hindustan Petroleum Corporation Limited (BPCL) has now come out rejecting the fuel shortage claims doing round on social media. that these claims are misleading and baseless”. According to BPCL, India has sufficient fuel stocks, and citizens are assured there is no need for concern, and these claims are ‘”misleading and baseless”.
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‘Claims of shortage in fuel supply are misleading and baseless. There is adequate availability of fuel in the country,” the BPCL message reads.
Two days ago, the Union Government said that India has sufficient crude oil and fuel reserves, assuring no immediate shortage of petrol, diesel, or LPG. Reports suggest India is comfortably positioned with 50 days of crude oil and product stock, and oil prices are also expected to remain unchanged.
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However, supply disruptions through the vital Strait of Hormuz transit route, which represents around 25% of global seaborne oil trade, have affected logistics, causing crude oil prices to surge past $110 per barrel, biggest jump since 2020.
Long queues for fuel stations in Spain, and Bangladesh’s decision to shut down universities to limit fuel consumption have sparked concerns among the people over potential fuel shortage.
