'No petrol shortage in India': Oil companies dismiss rumours

Amid rumors of a fuel and gas shortage due to the US-Iran war, oil companies have clarified that there is no shortage of petrol, diesel, or LPG across the country. They added that fuel supplies remain stable, and adequate stocks are available.

Leading Indian oil firms, Bharat Petroleum Corporation Ltd (BPCL), Hindustan Petroleum Corporation Limited (HPCL), and Indian Oil Corporation Ltd, on Wednesday dismissed the rumors as baseless, according to a report by HT.

Bharat Petroleum Corporation Ltd (BPCL) said that it is ensuring uninterrupted supply at all locations.

Hindustan Petroleum Corporation Limited (HPCL) also shared a similar statement and urged consumers to continue with normal consumption patterns of LPG.

"There is no shortage of petrol, diesel, or LPG across the country. Fuel supplies remain stable, and adequate stocks are available. Customers are advised not to be misled by rumours or resort to panic buying. Please continue with normal consumption patterns. HPCL remains committed to ensuring an uninterrupted and seamless fuel supply across its network," HPCL said.

These concerns stem from soaring oil prices triggered by the escalating Iran–US–Israel conflict. The February 28 strikes on Iran created a global economic ripple effect, severely disrupting the Strait of Hormuz, a vital maritime artery for India’s energy security. With Iran’s retaliation effectively choking this route, nearly 40–50% of India’s crude oil imports (roughly 2.5 million barrels per day from Iraq, Saudi Arabia, the UAE, Kuwait, and others) are now facing delays or rerouting challenges.

Taking note of the current situation in the Middle East due to the ongoing war, Prime Minister Narendra Modi, in his address to Parliament on Tuesday, said that the war in West Asia has caused a serious global energy crisis and has impacted trade routes. As a result, the routine supply of petrol, diesel, gas, and fertilisers has been affected.

“It has been more than three weeks since the war in West Asia began. The conflict has caused a serious energy crisis across the world. For India, too, this situation is concerning. The war has impacted our trade routes, affecting the routine supply of petrol, diesel, gas, and fertilisers,” PM Modi said.

Prime Minister Modi also said that an inter-ministerial group has been formed in view of the current situation. He added that this group will work on a swift and comprehensive strategy addressing supply chains, petrol, diesel, gas, inflation, and other essential sectors. He expressed confidence that the country will be able to handle the situation through collective efforts.

“The current crisis has shaken the global economy, and recovery from the losses in West Asia will take time. To ensure minimal impact on India, continuous efforts are being made. The fundamentals of our economy remain strong. The government is closely monitoring the rapidly changing situation and working strategically to manage its short-term, medium-term, and long-term impacts. The Government of India has also formed an inter-ministerial group that meets regularly to assess import-export challenges and develop necessary solutions. Additionally, seven empowered groups have been formed. These groups will work under a swift and far-reaching strategy covering supply chains, petrol, diesel, gas, inflation, and other essential sectors. I am confident that we will be able to face the situation better through joint efforts,” PM Modi said.

Middle East War: Iran vs Israel-US

The Iran–Israel–US conflict began on February 28, when a joint US–Israeli strike reportedly killed Supreme Leader Ayatollah Ali Khamenei and several top Iranian officials. Iran responded with large-scale missile and drone attacks on American military bases across West Asia, targeting sites in Iraq, Qatar, the UAE, Bahrain, Kuwait, and Saudi Arabia.