Considering the depletion of normal stock in Hyderabad, panic buying and supply constraints are leading several fuel outlets in Secunderabad and Hyderabad to suspend the sale of regular petrol and switch to premium variants.
Petrol Pump Switching To Premium Amid Panic Buying
As a result, now the attendants at multiple stations informed their customers that only premium petrol was available, as regular fuel had run out.
The situation is much more serious then it looks as there is a price difference between the two which stands at Rs 10 per litre, where normal petrol is priced at Rs 107 and premium at Rs 117.
According to the station operators, this situation is unusual as “Generally, we don’t run out of stock. But the panic buying has pushed the stocks to hit rock bottom. This is unprecedented in my career of about two decades. Scores of worried customers have approached here to enquire about the possibility of petrol running out due to the evolving situation in West Asia,” noted Md Irshad, the manager of Bharat Petrol Pump at Sangeet Junction in Secunderabad.
Auto LPG Reporting Shortages
Not only this, the fuel stations supplying auto LPG are also reporting the shortages and now they are displaying ‘out of stock’ notices on dispensing units.
The same is the story with the Autorickshaw drivers as they mostly rely on auto LPG and were seen queuing at the few outlets which are still operational.
A resident of Nampally, K Shravan Kumar said, “After visiting close to four to five stations in this part of the city, I am now standing in this long queue. Since most of the auto LPG stations across the city have already run out of stock, we are forced to stand in this queue. I fear that if even this gas station runs out of stock, I may have to manually tow my auto home and leave it here. The prices have gone up drastically. Now they are selling it for close to Rs 100 per litre, instead of the earlier Rs 60,” while waiting at a private petrol pump selling auto LPG at Lakdikapul.
Besides this, the dealers are indicating that private operators were selling LPG at higher rates amid the shortage.
One such dealer operating an IOCL outlet in Begumpet said, “Before running out of stocks about five days back, we sold 8,000 litres per day, which peaked to 15,000 on average by the time the West Asia crisis struck. We have officially sold the gas at Rs 77 per litre. Though the Indian Oil Corporation is informing us that they have stock for 57 days, people are in panic.”
All Rumors, No Shortage
While all this is happening, several oil giants have issued clarifications stating there is no shortage, calling such rumours “completely false” and assuring that supply remains normal and sufficient.
The timing of these statements is interesting as it comes at a time when global oil supplies are disrupted due to Iran’s chokehold of the Strait of Hormuz amid the ongoing Middle East crisis.
These Oil firms are also urging the buyers to not panic in the situation and avoid unnecessary purchases.
