New Delhi: The government claimed today that the country's petrol and diesel production is "more than sufficient" to handle any rise in demand for the two fuels. The announcement comes amid concerns of fuel shortages and supply difficulties in some parts of the country.
According to the government, some localities have experienced a substantial spike in fuel demand due to various of circumstances, resulting in lines at retail shops. This, in turn, has emerged to "speculation of supply constraints".Fuel demand in some states increased by up to 50% in the first two weeks of June compared to the same period last year.
"At the local level, this unprecedented demand growth has produced some temporary logistics challenges." "Oil companies have geared up to address these concerns by expanding inventories at depots and terminals, as well as increasing tank truck and lorry mobility to supply retail outlets," it stated.
The seasonal surge in demand due to agricultural activities, bulk customers shifting their purchases to retail outlets, and a significant fall in sales by private marketing businesses due to their huge volumes shifting to PSU ROs have all contributed to the increase in demand. These volumes have also been added to the RO Diesel sale as a result of the government's crackdown on unlawful bio-diesel sales, according to the ministry.
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