NEW DELHI: The Central government, addressing the concerns related to India’s energy supplies, reiterated Prime Minister Narendra Modi’s appeal to all citizens to reduce their consumption of petrol and diesel.
Sujata Sharma, joint secretary for the Ministry of Petroleum & Natural Gas, said, “I would like to convey to you that the Prime Minister has urged all citizens of the country to reduce their consumption of petrol and diesel. Wherever possible, utilise the Metro and public transportation; opt for carpooling; prioritise railways as a mode of transportation for goods; and wherever feasible, increase the usage of electric vehicles. Let us all come together and make every possible effort to conserve energy in our daily lives, so that the economic burden currently weighing upon the nation may be alleviated.”
“The Government of India has taken several effective measures and has strived to ensure that fuel supplies are maintained for the common consumer with minimal inconvenience. As a result of all these steps taken, our crude oil inventory remains well-maintained,” she said.
Sharma said, “Our refineries are operating at optimum levels. There are no instances of dry-outs at any retail outlets. Nor have any dry-outs been reported at LPG distributorships. Adequate stocks of petrol and diesel are available, and LPG supplies for domestic cooking purposes are being maintained. Over the past three days, 1 crore 26 lakh LPG cylinders have been delivered to households against 1 crore 14 lakh bookings. Similarly, sales of commercial LPG have exceeded 17,000 tonnes over the last three days. Sales of Auto LPG have also surpassed 762 tonnes…”
The 5th Informal Group of Ministers (IGoM) also met to finalise a strategy that blends military-grade strategic planning with a public appeal for mass participation, echoing the collective spirit of the COVID-19 pandemic.
Despite international volatility, Chaired by Defence Minister Rajnath Singh, the IGoM confirmed that India’s immediate energy security is robust.
“The IGoM was informed that the country is secure, and there is no shortage of any petroleum product, even as most other nations have taken emergency measures to dramatically reduce domestic consumption. India has 60 days of crude oil, 60 days of Natural Gas and 45 days of LPG rolling stock. The foreign exchange reserves stand at a comfortable $703 billion. India is the world’s third largest oil refiner and fourth largest exporter of petroleum products, exporting to over 150 countries and is meeting domestic demand in full,” as per the Ministry of Defence press release.
India is among the few countries where petroleum prices have held steady through this period of global volatility even after more than 70 days since the conflict started. In many nations, prices have increased by 30 to 70 per cent. However, India’s oil marketing companies have absorbed losses of close to Rs 1,000 crore a day, with under-recoveries running to nearly Rs 2 lakh crore in Q126 so that the burden of global astronomical prices is not passed to Indian citizens. There is no reason for anxiety, and no reason for any citizens to rush to retail outlets, it added.
Agencies
Govt assures ‘no crisis’ situation, reiterates PM Modi’s appeal on petrol and diesel
