Hyderabad, March 28 Union Coal Minister G Kishan Reddy on Saturday reassured people about the uninterrupted availability of petroleum products, including petrol and diesel, in the wake of military conflict in West Asia and emphasised that there is no cause for panic.
Reddy, who chaired a review meeting with Oil Marketing Companies (OMCs) and Dealer Associations to assess the prevailing supply situation in Telangana, said the recent international tensions have exerted pressure on global petroleum supply chains and contributed to price volatility.
However, the reports of shortages at certain retail outlets were temporary in nature and largely driven by local factors and social media-induced anxiety and not due to any systemic disruption, he said.
The country has adequate domestic fuel stocks, supported by continuous refinery operations, and that supplies across Telangana and other states are being maintained through established distribution networks, an official release, quoting him said.
He said the Centre, in coordination with public sector oil marketing companies, is closely monitoring supply chains to ensure smooth distribution at petrol pumps and LPG outlets.
He further said international procurement of crude oil, LPG, and refined petroleum products is on to meet domestic demand.
Reddy also said regular consultations are being held with oil companies and distributor networks to streamline supply allocation and address operational challenges.
To protect consumers from global price fluctuations, the Centre has announced a reduction in excise duty on petroleum products. This measure is aimed at moderating retail prices and ensuring a balanced sharing of the burden between consumers and oil companies, he said.
Stressing the Centre's commitment to long-term energy security, Reddy highlighted the ongoing efforts to expand refining capacity, promote cleaner household energy such as LPG, and accelerate electrification and electric mobility initiatives to reduce import dependence.
The union minister urged people to refrain from panic buying or hoarding of petrol, diesel, or LPG cylinders, as such actions can create artificial shortages and adversely affect vulnerable sections of society.
Reddy, who chaired a review meeting with Oil Marketing Companies (OMCs) and Dealer Associations to assess the prevailing supply situation in Telangana, said the recent international tensions have exerted pressure on global petroleum supply chains and contributed to price volatility.
However, the reports of shortages at certain retail outlets were temporary in nature and largely driven by local factors and social media-induced anxiety and not due to any systemic disruption, he said.
The country has adequate domestic fuel stocks, supported by continuous refinery operations, and that supplies across Telangana and other states are being maintained through established distribution networks, an official release, quoting him said.
He said the Centre, in coordination with public sector oil marketing companies, is closely monitoring supply chains to ensure smooth distribution at petrol pumps and LPG outlets.
He further said international procurement of crude oil, LPG, and refined petroleum products is on to meet domestic demand.
Reddy also said regular consultations are being held with oil companies and distributor networks to streamline supply allocation and address operational challenges.
To protect consumers from global price fluctuations, the Centre has announced a reduction in excise duty on petroleum products. This measure is aimed at moderating retail prices and ensuring a balanced sharing of the burden between consumers and oil companies, he said.
Stressing the Centre's commitment to long-term energy security, Reddy highlighted the ongoing efforts to expand refining capacity, promote cleaner household energy such as LPG, and accelerate electrification and electric mobility initiatives to reduce import dependence.
The union minister urged people to refrain from panic buying or hoarding of petrol, diesel, or LPG cylinders, as such actions can create artificial shortages and adversely affect vulnerable sections of society.
