India’s fuel supply management has been exemplary: Former IGL Chairman

Mumbai, May 23 (SocialNews.XYZ): India’s fuel supply management has remained stable despite global disruptions, said former Chairman of Indraprastha Gas Limited (IGL) and former Director (HR) of Bharat Petroleum Corporation Limited (BPCL) Raj Kumar Dubey on Saturday.

Speaking with IANS, Dubey said, “Supply management has been exemplary, otherwise you would have faced shortages like several other countries. But India never faced any shortages in terms of fuel, petrol and diesel. LPG is an area of concern.”

Referring to the financial impact of global crude price movements, he said the projected under-recovery is around Rs 30,000 crore per month.

“Crude prices have risen 35 to 40 per cent and may increase further. Naturally, this has to reflect in petroleum products. Across the world, most countries have raised prices ranging from 20 per cent to 50 per cent, so it is up to policymakers to decide the extent of increase required,” he said.

He added that many countries have already adjusted fuel prices.

“The government has done an exemplary job in this situation because it was initially seen as a temporary phenomenon. Whenever such temporary spikes happen, we don’t want ordinary people to be affected,” he told IANS.

Comparing international trends, Dubey noted that even in the United States, the largest producer of crude oil, petrol and diesel prices have gone up.

Since more than 85 per cent of India’s crude is imported, he said India has done a “wonderful job” in managing the situation.

Earlier in May, leading state-run oil marketing companies (OMCs) — HPCL, IOCL and BPCL — had assured customers that petrol, diesel and LPG supplies remain stable across the country, while urging people not to rely on rumours or unverified social media messages regarding fuel shortages.

Source: IANS