Are there signs of fuel crisis in the country? Jio-BP’s new rule became a topic of discussion, 2 companies increased prices

The impact of ongoing geopolitical tension across the world has now started reaching the pockets of common people. Due to the increasing conflict between Iran, America and Israel, the prices of crude oil remain high in the international market. Although, amidst this global turmoil, there has been no direct change in the prices of petrol and diesel in India at present, but some recent decisions have definitely increased the concern about the future.

Recently, a new rule has been implemented at the petrol pumps of Reliance-BP (Jio-BP), under which now only fuel worth Rs 1000 will be given at a time. After this decision, questions are being raised among the people whether there is going to be a shortage of petrol and diesel in the country or whether the companies are preparing to increase the prices in the coming time.

Naira and Shell India increased prices

In the month of March, private company Nayara Energy was the first to increase the prices of fuel. The company had increased the price of petrol by Rs 5 per liter and diesel by Rs 3 per liter. Since then, the company has not made any change in its rates.

After Naira, Shell India had also increased the prices of petrol and diesel drastically. The company increased the price of diesel by about Rs 25 per liter, while the price of petrol was increased by Rs 7.4 per liter. This move created a stir in the market and created concern among consumers.

Premium petrol becomes expensive

Government oil companies have also increased the prices of premium petrol. Indian Oil and Hindustan Petroleum increased the price of premium fuel by Rs 2.09 to Rs 2.35 per liter. However, there has been no change in the prices of normal petrol and diesel yet.

Crude oil prices in the international market have remained above $100 per barrel for some time. This has increased the economic pressure on oil companies. To handle this situation, the government had already reduced the excise duty on petrol and diesel by about Rs 10 per liter, so that the common people could get relief.

Is there fuel shortage in the country?

The government is continuously making it clear that there is no shortage of petrol and diesel in the country. In view of the war situation, India has started purchasing large quantities of crude oil from Russia and attention is also being given to other sources. According to officials, there is sufficient stock of fuel in the country and at present there is no concern regarding supply.