image sourced from original article at The Union government has reiterated Prime Minister Narendra Modi’s appeal for citizens to reduce their consumption of petrol and diesel amid rising global oil prices linked to tensions in the Middle East and disruptions around the Strait of Hormuz. Officials urged people to use metro services and public transport, adopt carpooling, prioritize railways for transporting goods, and increase the use of electric vehicles to help ease the country’s economic burden.
Authorities said India’s fuel supplies remain stable, with crude oil inventories well maintained and refineries operating at optimal levels. There have been no reports of fuel shortages at retail outlets or cooking gas distributors, and deliveries of domestic cooking gas cylinders have exceeded recent booking levels. The government also clarified that India does not pay any tax for ships passing through the Strait of Hormuz.
Despite steady retail prices for petrol and diesel, state-owned fuel retailers have incurred losses exceeding one lakh crore rupees in the past ten weeks as they absorb the impact of surging global crude prices. Combined daily under-recoveries for Indian Oil Corporation, Bharat Petroleum Corporation Limited and Hindustan Petroleum Corporation Limited are estimated between 1,600 crore and 1,700 crore rupees, with no relief package currently announced.
