More Stories

Informist, Friday, Mar. 6, 2026

 

Please click here to read all liners published on this story

--IOC: Social media reports on petrol, diesel shortage baseless 
--IOC: India has sufficient fuel stocks 
--IOC: Supply, distribution networks functioning normally 
--IOC: Committed to maintaining uninterrupted fuel supply across country 
--IOC: Request citizens to not panic 
--IOC: Request citizens to not crowd fuel stations 
 

 

NEW DELHI – Indian Oil Corp. Ltd. Friday denied social media reports suggesting shortages in petrol and diesel and requested citizens not to panic or crowd fuel stations. "India has sufficient fuel stocks, and supply and distribution networks are functioning normally," the state-owned oil marketing company said in a post on X, formerly called Twitter. 

 

Indian Oil said it "is committed to maintaining uninterrupted fuel supply across the country."

 

The comments come amid reports on social media that consumers are rushing to stock up amid a shortage in petrol, diesel, and liquefied petroleum gas due to the war in West Asia. The conflict has pushed up global crude oil prices. The May contract of Brent Crude Oil Futures breached $89 per barrel Friday, the highest since April 2024. India imports more than 85% of its crude oil requirements.

 

Israel and the US attacked Iran on Saturday, prompting retaliation from Tehran. Iran's Supreme Leader, Ayatollah Ali Hosseini Khamenei, and several of the country's top military leaders were killed in the first wave of attacks by Israel and the US. Iran has since retaliated against Israel and targeted US military installations around the Persian Gulf.

 

Iran has shut the Strait of Hormuz, a narrow waterway that connects the Persian Gulf to the Indian Ocean, resulting in a sharp jump in crude oil and natural gas prices. A fifth of the global crude oil supply flows through the Strait of Hormuz. About half of India's crude oil imports – primarily from Iraq, Saudi Arabia, the United Arab Emirates, and Kuwait – also pass through the strait.

 

Bharat Petroleum Corp. Ltd. also issued a similar statement Friday and said India's energy supply remains reliable and resilient and there is no reason to be alarmed about fuel availability. "We hold ample reserves of petroleum products across the nation, with supply chains operating without disruption," it said.  End

 

US$1 = INR 91.74

 

Reported by Priyasmita Dutta

Edited by Saji George Titus

 

For users of real-time market data terminals, Informist news is available exclusively on the NSE Cogencis WorkStation.

 

Cogencis news is now Informist news. This follows the acquisition of Cogencis Information Services Ltd. by NSE Data & Analytics Ltd., a 100% subsidiary of the National Stock Exchange of India Ltd. As a part of the transaction, the news department of Cogencis has been sold to Informist Media Pvt. Ltd.

 

Informist Media Tel +91 (22) 6985-4000

Send comments to feedback@informistmedia.com

 

© Informist Media Pvt. Ltd. 2026. All rights reserved.