India lifts curbs on sale of petrol, diesel on easing of supply
The curbs were imposed earlier this month to prevent local fuel shortages amid disruptions to global supply chains caused by the conflict in the Middle East.
India has announced lifting of the temporary restrictions on the sale of petrol and high speed diesel with effect from 1 July following easing of the supply situation.
The curbs were imposed earlier this month to prevent local fuel shortages amid disruptions to global supply chains caused by the conflict in the Middle East.
In an order issued yesterday (29 June), the Oil and Natural Gas Ministry said it had reviewed the prevailing supply situation of petroleum products and concluded that the restrictions were "no longer necessary in the public interest".
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The curbs had barred industrial, commercial and institutional consumers from purchasing petrol and diesel from retail fuel stations, requiring them to source fuel from authorised bulk suppliers instead.
During the period of disruptions arising from the Middle East crisis, the government continued to shield retail consumers from the sharp increase in international fuel prices by maintaining stable retail prices of petrol and diesel.
This led to a significant price difference between retail fuel prices and those applicable to bulk consumers. Consequently, certain industrial, commercial and institutional consumers began procuring fuel through retail outlets, leading to instances of diversion, hoarding and black marketing, which affected the equitable distribution of fuel.
To address this situation, the temporary regulatory measures, introduced on 12 June, prescribed a temporary limit of 200 litres of high speed diesel per customer/vehicle per day at retail outlets and required industrial, institutional and commercial consumers to procure fuel through designated consumer pumps instead of retail outlets.
The measures were aimed at preventing black marketing, hoarding and diversion of diesel while ensuring uninterrupted availability of petrol and diesel to retail consumers.
"Following a review of the supply situation of petroleum products in the country, the government has concluded that the temporary regulatory measures are no longer required in the public interest," the order said.
The temporary measures helped ensure adequate availability of petrol and diesel across the country while safeguarding the interests of retail consumers, the order said.
