The recent petrol shortage in Hyderabad has sparked significant concern among residents, leading to long queues at fuel stations across the city. Despite government assurances that there is no fuel shortage in Telangana, panic buying has caused several petrol pumps to run out of stock, displaying ‘no stock’ signs.

The situation escalated over the weekend when oil companies did not supply fuel due to holidays, exacerbating the issue. Daily petrol consumption in Telangana is estimated at 35 lakh litres, and with panic buying in full swing, some petrol stations began rationing sales to just 150-200 litres for two-wheelers.

According to reports, there are around 900-1000 petrol pumps in the Greater Hyderabad Municipal Corporation (GHMC) region and approximately 3600 across Telangana. On a typical day, each pump sells about 10,000-12,000 litres of petrol. However, on days of panic buying, one pump reportedly sold 13,000 litres by 6 PM.

Residents have expressed frustration over the situation. A local citizen, Sai Kumar, noted, “Hundreds of vehicles are here for filling. I am here from almost 25 minutes,” highlighting the delays caused by the rush. Another individual, A Narendra, shared, “I came here after seeing posts about a fuel shortage on social media,” indicating the role of misinformation in driving the panic.

Stephan Reveendra, the Commissioner of the Civil Supplies Department, urged the public to refrain from panic buying, stating, “I urge the public not to engage in panic buying.” Meanwhile, Marri Amarender Reddy, president of the Telangana Petroleum Dealers Association, criticized the sudden restrictions imposed by oil companies, saying, “When the situation is not right, the oil companies should not impose sudden rules and restrictions that directly affect the common citizens.”

Temporary stock issues have been reported in areas like Bahadurpura and Mir Alam, but the Civil Supplies department maintains that the fuel supply mechanism is functioning normally. However, the exact reason for the sudden surge in demand remains unclear.

Details remain unconfirmed regarding when normal fuel supply will resume, leaving residents anxious about the ongoing situation. As the government continues to monitor the situation, further developments are expected in the coming days.

The post Petrol Shortage in Hyderabad: Panic Buying Causes Long Queues appeared first on crypto.

Despite the visible signs of distress among consumers, the state government has reassured the public that there is ample stock of petrol and diesel available in Gujarat. Deputy Chief Minister Harsh Sanghavi has urged citizens to remain calm and not succumb to the panic fueled by misinformation circulating on social media platforms. “There is enough stock of petrol and diesel available in the state and so people need not do hoarding or panic,” he stated, attempting to quell the growing anxiety.

The panic was reportedly exacerbated by a sudden change in payment systems implemented by oil marketing companies, which left many consumers confused and concerned about their ability to access fuel. Approximately 30-40% of retail outlets in Gujarat are currently facing supply issues due to logistical difficulties, which has further contributed to the sense of urgency among drivers looking to fill their tanks.

In response to the situation, the Indian Oil Corporation has confirmed that adequate supplies of petrol and diesel are indeed available in Gujarat. Sujata Sharma, a spokesperson for the corporation, emphasized, “These are not dry outs. We have checked it from the field and all petrol pumps are working normally and adequate fuel is available at all such facilities.” This statement aims to reassure the public that the fuel supply chain remains intact despite the temporary disruptions.

The current crisis has also been linked to the rising price of crude oil, which has surged from USD 60 to USD 118-120 per barrel due to geopolitical tensions. This increase has led to a refining loss of 36-38 per litre faced by oil marketing companies, prompting them to implement an advance payment policy for fuel dealers. This policy change has added to the confusion and anxiety among consumers, who are now worried about the availability of fuel.

Officials are closely monitoring the situation and holding regular review meetings to ensure that the supply of petrol and diesel remains stable. “The government is fully prepared to ensure that petrol and diesel are available at all pumps,” Sanghavi assured the public, indicating a proactive approach to managing the crisis.

As the situation develops, it is crucial for citizens to remain informed and not give in to the rumors that have been circulating. “People should not pay attention to rumours being spread through social media or WhatsApp,” Sanghavi advised, highlighting the importance of relying on official communications rather than unverified information. The government’s efforts to stabilize the situation will be key in preventing further panic among the public.

The wider picture

Fuel retailers have reported that India maintains a 70-day reserve of crude oil, indicating that there is no immediate shortage of fuel in the country. However, the combination of rising prices and logistical challenges has created a perfect storm that has led to the current panic buying scenario in Ahmedabad. As the government works to address these issues, it remains to be seen how quickly normalcy can be restored to the fuel supply chain.

The post Petrol Shortage in Ahmedabad Sparks Panic Buying appeared first on crypto.