Amid disruptions in global energy supplies and fears of strict measures over shortage of fuel and gas due to the US-Iran war, oil companies on Wednesday dismissed rumours of petrol-diesel shortage saying that India has adequate reserves.
The February 28 US-Israeli strikes on Iran sparked a war that has not just affected the Gulf region but the entire world, with key waterway Strait of Hormuz being virtually closed off.
A fifth of world's gas and fuel requirements reportedly travel through the Strait of Hormuz that Iran's retaliation has choked.
Amid tankers carrying gas and crude oil being stranded or delayed due to the chokehold on the Strait of Hormuz, questions have been growing around what steps the government would take to cater to the global crisis, so much so that some have even wondered if there could be lockdown-like measures.
Oil companies dismiss fuel shortage rumours
Addressing the growing speculation and fears, Indian oil companies Bharat Petroleum Corp. Ltd (BPCL), Hindustan Petroleum Corporation Limited (HPCL), and Indian Oil Corp Ltd said on Wednesday that the rumours are unfounded.
{{/usCountry}}Addressing the growing speculation and fears, Indian oil companies Bharat Petroleum Corp. Ltd (BPCL), Hindustan Petroleum Corporation Limited (HPCL), and Indian Oil Corp Ltd said on Wednesday that the rumours are unfounded.
{{/usCountry}}"Rumours of petrol and diesel shortages are completely unfounded. India has ample fuel reserves, and supply chains are running normally, said BPCL.
BPCL added it is fully operational and committed to uninterrupted fuel supply.
Hindustan Petroleum Corporation Limited (HPCL) made a similar statement in its communication, assuring customers that there is no shortage of petrol, diesel, or LPG across the country.
"Dear Customers, 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.
Internet searches regarding “lockdown in India” have been rising since Tuesday, March 24, which was also the sixth anniversary of the nationwide lockdown Prime Minister Narendra Modi had announced in 2020 over the Covid-19 outbreak.
‘Lockdown due to war’ searches rise
Some searches on Tuesday also were about whether there will be a lockdown again in India due to war. The government of India has maintained through multiple statements issued so far over the West Asia conflict that there is no need for panic regarding disruptions globally in gas and oil supplies, however, people have been urged to be mindful in their usage of the key natural resources.
Prime Minister Narendra Modi's recent Parliament speech, in which forecast a strong possibility of ill effects due to the ongoing war, also described the disruption to energy supplies globally due to the fighting in the oil-rich Gulf and as having “serious consequences”.
Drawing attention to the long-term risks, Prime Minister Narendra Modi noted in his Parliament addresses on Monday and Tuesday that while India's endeavour is to ensure the safe arrival of ships carrying every essential commodity, be it oil, gas, or fertilizers, the prolonged persistence of the global disruptions caused by this war “would inevitably lead to serious consequences”.
Modi said the government is working on all fronts to manage the situation and safeguard public interest, adding, “I urge citizens to be prepared for every challenge. The impact of this war may be long-lasting, but I assure the people that the government is alert and the nation’s interest remains paramount.”
There is a strong possibility that the ill effects of this war will last for a long time, PM Modi said, assuring the public that the government is vigilant, prepared, and is formulating strategies and making every decision with utmost seriousness.
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“The interests of the people of the country are paramount for us. This is our identity, this is our strength. With this sentiment, I conclude my statement,” Modi said.
"India is therefore accelerating all the resilience-building measures that have been undertaken over the past years," asserted PM Modi.
Speaking on India's decade-long strategic preparedness, PM Modi observed that every crisis tests both a nation's resolve and its efforts, and that consistent and far-sighted decisions have been taken over the past eleven years to ensure the country can withstand such challenges.