Indian Oil has affirmed that, in collaboration with other Oil Marketing Companies (OMCs), it is maintaining adequate stocks of petrol and diesel throughout the country.
Published: May 23, 2026 4:23 PM IST
New Delhi: Amidst reports of shortages and long queues forming at petrol pumps in certain parts of the country, Indian Oil Corporation (Indian Oil)—the nation’s largest state-run oil company—issued a significant statement on Saturday, 23 May. Indian Oil has reassured customers and the general public that there is absolutely no shortage of petrol and diesel within the country.
The company clarified that the situation currently being observed at a few selected petrol pumps is entirely temporary and localized, stemming from local-level imbalances in demand and supply, as well as shifting sales patterns. On Saturday, oil companies once again hiked the prices of petrol and diesel. Additionally, CNG prices have also gone up. This marks the third increase in fuel prices this month.
Why Sudden Surge in Crowds?
In its statement, Indian Oil also outlined the primary reasons behind the sudden surge in fuel demand observed in specific regions. The company said that the crop harvesting season is currently underway in several parts of the country. Consequently, there has been a substantial seasonal surge in the demand for diesel for agricultural activities.
Due to rising crude oil prices in the international market, the cost of wholesale and institutional fuel supplies has risen sharply. Consequently, large commercial and institutional buyers are now turning directly to retail petrol pumps run by state-owned companies to fulfill their fuel requirements.
Record Surge in Demand, Yet Supply Remains Normal
According to data released by the company, Indian Oil witnessed a massive surge in fuel sales between May 1 and May 22, 2026, compared to the corresponding period last year. During this period, petrol sales rose by 14% year-on-year. Similarly, diesel sales recorded an increase of approximately 18% compared to the previous year. The company stated that, despite this unexpected and sustained surge in demand, Indian Oil continues to consistently meet the needs of customers across the country. Such a situation has arisen at only a handful of outlets within the company’s vast network of over 42,000 petrol pumps nationwide. At the majority of petrol pumps across the country, stocks and supplies remain completely normal and adequate.
Appeal Against Panic Buying
Indian Oil has affirmed that, in collaboration with other Oil Marketing Companies (OMCs), it is maintaining adequate stocks of petrol and diesel throughout the country. The company is continuously monitoring the situation, and immediate steps are being taken to resolve any issues arising at the local level.
The company has urged consumers to disregard any rumours and to refrain from panic buying—that is, purchasing out of anxiety—to ensure that everyone continues to receive petrol and diesel smoothly and without any interruptions.
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