Country The rumors led to a rush to buy petrol and diesel in some parts of the country, leading to an extraordinary surge in demand. The government clarified on Monday that there is sufficient stock of petrol and diesel available to meet the needs. According to reports, rumors of immediate increase in the prices of petrol and diesel in many cities of Andhra Pradesh led to a rush to buy petrol and diesel, resulting in a shortage of oil and more than 400 petrol pumps became empty on Sunday. “We have seen extraordinary growth in some sectors,” said Sujata Sharma, joint secretary in the ministry of petroleum and natural gas. Demand for diesel has increased by 30-33 percent. That’s why some pumps faced problems.”
India has sufficient reserves of petrol and diesel
However, he clarified that oil companies are solving the problem. “There is no availability problem,” he said. We have adequate reserves.” Despite panic buying seen at some pumps due to rumours, state-owned oil marketing companies are ensuring adequate stocks of petrol and diesel. “PSU retail outlets are functioning normally,” he said. “Citizens are advised to avoid panic buying of petrol, diesel and LPG as the government is making all efforts to ensure their availability.”
Despite huge increase in crude oil prices, petrol and diesel prices remain stable in the country.
Sujata Sharma did not elaborate on the rumours. Despite the rise in international oil prices, there has been no increase in the prices of petrol and diesel in India and the government oil companies themselves are bearing the brunt of it. However, experts are raising questions as to how long will oil companies be able to keep prices stable without government support. Sujata Sharma said that despite the current geopolitical tensions, India has maintained adequate supplies of petrol, diesel and cooking gas.
With PTI inputs
