New Delhi, May 18: Sujata Sharma, Joint Secretary of the Ministry of Petroleum and Natural Gas, stated on Monday that government oil marketing companies (OMCs) are still facing significant financial pressure despite the recent fuel price increase. These companies are incurring daily losses of approximately ₹750 crores.
Sharma’s remarks come amid ongoing tensions in West Asia, which have disrupted crude oil and LNG imports, affecting the global energy supply chain for nearly the past month and a half.
Addressing the current fuel supply situation, Sharma assured that India has sufficient fuel reserves and that there are no reports of shortages in any part of the country. “We have adequate reserves, and there is no situation of fuel running out anywhere,” she said.
She added, “The government and oil companies are continuously monitoring the situation to ensure uninterrupted supply and smooth distribution of petroleum products across the nation.”
According to Sharma, there has been a noticeable shift in fuel demand patterns. Retail petrol pumps are now seeing more demand compared to wholesale fuel sales, ensuring consumers receive a steady supply.
She noted that the daily losses for government oil companies had previously been around ₹1,000 crores but have now decreased to approximately ₹750 crores following the recent fuel price hike.
However, she clarified that the central government is not currently considering any relief package for public sector fuel companies.
Regarding LPG supply, Sharma mentioned that despite global challenges, oil companies have managed to maintain stable distribution. “In the last four days, about 1.72 lakh LPG cylinders were delivered, while approximately 1.69 lakh booking requests were received. This clearly indicates that the supply chain remains normal and stable,” she stated.
The ongoing crisis in West Asia has led to continuous fluctuations in the global energy market, increasing pressure on India’s energy import bill and raising concerns about the financial health of government fuel retailers.
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