State-run oil marketing companies (OMCs) continue to face heavy financial stress, with daily under-recoveries standing at nearly Rs 750 crore despite the recent fuel price hike, Petroleum Secretary Sujata Sharma pointed out on Monday.
Speaking amid the ongoing West Asia crisis that has disrupted crude oil and LNG imports for nearly one-and-a-half months, Sharma said India's fuel supply situation remains stable and no shortages have been reported across the country.
“We have sufficient inventory and no dry-out situation is being reported,” Sharma said, while assuring that the government and oil companies are closely monitoring supplies to ensure smooth distribution of petroleum products.
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She noted that fuel demand patterns are witnessing a shift, with bulk sales increasingly moving towards retail pump sales to maintain uninterrupted availability for consumers.
According to Sharma, under-recoveries suffered by OMCs have reduced from around Rs 1,000 crore per day earlier to Rs 750 crore per day after the recent increase in fuel prices. However, she made it clear that the Centre is currently not considering any bailout package for state-run fuel retailers.
On LPG distribution, Sharma said oil companies have managed to maintain regular supplies despite global disruptions. Over the last four days, around 1.72 lakh LPG cylinders were delivered against nearly 1.69 lakh booking requests, she said.
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The comments come at a time when volatility in global energy markets and supply disruptions linked to tensions in West Asia continue to put pressure on India's energy import bill and domestic fuel retailers.
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