New Delhi, May 24: Amid rising concerns about fuel availability, Sukhamal Kumar Jain, the Marketing Director of Bharat Petroleum Corporation Limited (BPCL), stated on Sunday that there is no shortage of petrol and diesel in the country. He assured that government oil companies are effectively managing fuel supply and consumption.
In an interview with a news agency, Jain noted that out of nearly 100,000 fuel pumps in India, 85,000 are managed by government oil companies, and fuel supply remains normal across all these outlets.
However, Jain acknowledged that “there may be isolated incidents due to various reasons, but to my knowledge, there is no fuel shortage in the country.”
Commenting on the current market situation, Jain highlighted the extreme volatility in global crude oil prices and related costs. He explained that fluctuations in shipping costs, insurance expenses, and exchange rates have significantly impacted oil companies.
“The current situation is highly unstable and has multiple facets. If you closely observe the changes in crude oil prices, shipping costs, insurance, and even exchange rates, you will understand,” he said.
According to Jain, exchange rates, which were previously around 89-90, have now risen to approximately 96, increasing the burden on oil marketing companies.
He mentioned that due to the combined effect of these factors, oil companies are currently incurring losses of up to ₹600 crore to ₹700 crore daily.
Despite the pressure on margins, Jain affirmed that public sector oil companies continue to ensure uninterrupted fuel supply across the nation.
Earlier, BPCL’s Director of Finance, VRK Gupta, indicated that amid the crisis in the Middle East, the government oil company has increased its crude oil purchases from Russia, with Russian crude now accounting for about 41% of the company’s total imports, up from 31% in the fourth quarter of FY26 (January to March).
In a media interaction, Gupta explained that due to tensions in the Middle East, the company has diversified its sourcing, particularly increasing imports from Russia. Previously, in the third quarter of FY26 (October to December 2025), Russian crude constituted about 25% of the company’s import basket.
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