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Argus News - Panic Buying Increased Fuel Demand By 50%; Odisha Has 13 Days Fuel Stock, No Shortage: Minister

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Fuel Supply News / Panic Buying Increased Fuel Demand By 50%; Odisha Has 13 Days Fuel Stock, No Shortage: Minister

Patit Mandal
Browse all articles by Patit Mandal
·1 hour ago·4 min read
Panic Buying Increased Fuel Demand By 50%; Odisha Has 13 Days Fuel Stock, No Shortage: Minister
No Fuel Shortage In Odisha: Minister

Key Points

Odisha Food Supplies Minister Krushna Chandra Patra assured no fuel shortage; state has stock for next 13 days. Panic buying increased demand by nearly 50%.
Bhubaneswar, May 15: Odisha Food Supplies and Consumer Welfare Minister Krushna Chandra Patra on Friday assured people that there is no shortage of petrol or diesel in the state and said Odisha currently has fuel stock sufficient for the next 13 days.

The Minister appealed to people not to panic or indulge in unnecessary hoarding amid rumours of a fuel shortage.

“People should not panic or rush to petrol pumps carrying jerry cans and containers. There is no shortage of petrol or diesel in Odisha,” Patra said.

He stated that fuel demand in the state has risen sharply by nearly 50 per cent due to panic buying over the last few days.

Clarifying the controversy surrounding Prime Minister Narendra Modi’s appeal to reduce fuel consumption, the Minister said the statement was aimed at reducing excessive fuel usage and easing economic pressure caused by rising dollar dependency on imported crude oil and gold.

“India purchases crude oil and gold from foreign countries in dollars. As the dollar strengthens, it impacts the economy. The Prime Minister had only appealed to people to reduce unnecessary fuel consumption. But rumours spread that fuel would soon become unavailable,” he said.

Patra further said strict instructions have been issued to officials to conduct raids against black marketing and illegal hoarding of petrol and diesel.

The Minister also directed that priority be given to supplying fuel for public transport services.

Oil Companies Assure Adequate Fuel Availability
Meanwhile, Indian Oil Corporation Limited (IOCL) Chief General Manager Kamal Sheel also assured that all major oil companies, including IOCL, HPCL, BPCL, Reliance and Nayara, have adequate stock of fuel.

He said some fuel stations remained temporarily shut due to logistical and operational reasons, not because of any shortage.

“People should not crowd fuel stations or create panic. District-wise monitoring is being carried out and 3 to 4 days’ stock is being maintained in every district. Fuel will be supplied to all pumps according to demand,” Sheel said.

According to him, fuel sales in Odisha have increased by nearly 30 per cent over the last two days due to panic buying.

Dealers Say Situation Likely To Normalise Soon
Reacting to the situation, Utkal Petroleum Dealers’ Association General Secretary Sanjay Lath said the situation is likely to normalise by Friday evening.

He said panic buying by consumers was the primary reason many petrol pumps temporarily ran out of fuel.

“Petrol pumps usually maintain stock for around three days. But people are buying much more fuel than their daily requirement, causing stocks to deplete within hours,” Lath said.

He added that although depots have sufficient reserves, sudden excessive demand led to temporary disruption in supply at some filling stations.

Also ReadPetrol, Diesel Prices Hiked By Rs 3 Per Litre Amid Rising Crude Oil Prices

Odisha Has Over 2,800 Petrol Pumps
Lath said Odisha has more than 2,800 petrol pumps and most of them are being replenished with fresh stock.

He informed that Odisha’s average daily fuel consumption currently stands at around 44.7 lakh litres of petrol and 1.12 crore litres of diesel.

He also clarified that no restriction has been imposed on fuel purchases, though some petrol pumps may regulate supply temporarily in the interest of consumers to prevent exhaustion of stock.

“The Prime Minister’s appeal was only to reduce fuel consumption and not an indication of any fuel crisis. Rumours triggered panic buying, which led to the present situation,” he added.

Latest Fuel Prices In Odisha
As per the latest rates mentioned by the association, petrol in Odisha is currently priced at Rs 104.51 per litre, while diesel costs Rs 95.99 per litre.
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Fuel Supply News | Odisha Has 13 Days Fuel Stock No Shortage Minister Assures | Argus English