Panic buying has led to shortage of petrol: Official

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Bangalore, Jul 4 (UNI) The panic buying by the consumers during the last couple of days has led to shortage of petrol in the outlets, Oil Companies officials said today.

Speaking to newspersons in the presence of Karantala Minister for Civil Supplies Haratal Halappa here, he said that the Indian Oil Company General Manager B Ashok said that during last three days there was a sudden surge of about 30 per cent in the demand in Bangalore than the normal consumption.

Stating that it was unexpected panic led to an abnormal demand for petrol and diesel in the city Mr Ashok said that the fear about shortage in the supply of petroleum products in the coming days have led to this situation.

Mr Ashok said that the consumption of petrol and diesel in Bangalore city, Bangalore urban and rural districts accounts for about 1915 KL of petrol and 4705 KL of diesel sold by all the petroleum companies, on any given normal days, it had however jumped to over 30 per cent increase in the last two days.

While informing that the oil companies have buffer stock of both petrol and diesel to meet demands for next 7 to 8 days in the city the oil company officials appealed the consumers not to get panic over the supply of petro fuel products.

Replying to questions, Mr Ashok said that Oil companies have not imposed any of their dealers to off load only branded petrol and diesel and sell to consumers. "Consumers has a choice either to go for branded or the normal petrol and diesel products" he said.

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