Jio-bp CEO Akshay Wadhwa assures that India's fuel supplies are stable despite West Asia tensions, urging against panic buying. He confirmed petrol and diesel availability is adequate and early panic has subsided, with no supply restrictions in place.
Fuel Supply Stable, Panic Buying Subsides
Fuel supplies across the country remain stable, and there is no need for panic buying despite ongoing geopolitical tensions in West Asia, Akshay Wadhwa, CEO of Jio-bp, said.
Speaking on the current fuel situation, he stated that adequate availability of petrol and diesel is being maintained through a well-functioning supply chain.
He noted that while there were instances of panic buying in certain markets earlier, the situation has now normalised with no unusual rush at fuel stations. "We have enough product in our supply chain. There is no issue as far as availability is concerned. The panic seen in some areas earlier has now subsided, and things are back to normal," he said.
No Supply Restrictions Imposed
On concerns around supply restrictions, the MD clarified that the company has not imposed any caps on fuel sales. However, he acknowledged that there could be isolated, localised disruptions due to logistical challenges, including long-distance transportation of fuel to certain regions. "There is no restriction from our side. Our objective is to ensure that fuel reaches every consumer and to avoid panic in the market," he added.
Prices Held Steady to Support Consumers
Amid rising geopolitical uncertainties, the company has also refrained from increasing fuel prices, indicating a broader industry effort to support consumers during a volatile period. "We are with the nation and with the consumers. At this point, it is important to meet the needs of the people," he said.
Demand Outlook and Retail Focus
He further highlighted that the company expects demand to remain firm, particularly as the country moves into the seasonal period that typically sees higher fuel consumption. He added that the firm continues to focus on retail operations, with bulk supplies handled directly at the company level.
Aviation Fuel and Regional Stability
On aviation fuel, he said the segment remains largely stable as it is driven by contractual agreements, even as broader concerns persist around flight disruptions linked to the West Asia situation.
He also expressed hope that the recent ceasefire developments would hold, helping maintain stability in energy markets and ensuring continued supply security for the country. (ANI)
(Except for the headline, this story has not been edited by Asianet Newsable English staff and is published from a syndicated feed.)