Fuel Panic Grips Local Pumps as Three-Day Bank Holiday Looms

A wave of panic buying gripped several petrol stations across the region on Tuesday, as motorists rushed to refill their tanks ahead of an upcoming three-day government and banking holiday. Long queues were witnessed at multiple fuel outlets, driven by fears of a possible supply disruption.

Banking Holiday Triggers Supply Concerns

The sudden rush stems from apprehensions that fuel stations may face difficulties in replenishing stocks while banks remain closed. Many motorists feared that pumps could run dry during the extended holiday period, prompting an unusual surge in demand.

New ‘Pay-First’ Policy Adds to Anxiety

According to Sanjay Lath, President of the Petrol and Diesel Traders’ Association, a recent change in payment policy by oil companies has intensified concerns.

“Under the new ‘pay-first’ system, dealers must deposit funds in the bank daily to receive fuel supplies. With banks closed for three days, some dealers may find it difficult to restock,” he explained.

He added that while larger outlets are expected to maintain supply, smaller pumps could face temporary shortages, leading to uneven distribution and crowding at select stations.

No Actual Fuel Shortage, Say Experts

Despite the panic, industry representatives have reassured the public that there is no real shortage of fuel. India currently holds sufficient reserves to meet demand for approximately a month.

“The issue is purely logistical due to the banking holiday and payment system changes, not a supply crisis,” Lath clarified.

Appeal to Public: Avoid Hoarding

Authorities and industry experts have urged citizens not to engage in panic buying or hoarding. They emphasized that such behavior could worsen the situation by creating artificial shortages at certain locations.

Motorists have been advised to plan refueling responsibly and avoid overcrowding petrol pumps unnecessarily.

Situation Stable but Under Watch

While the immediate situation remains under control, officials continue to monitor developments closely. The long-term outlook will depend on global factors and smooth implementation of the new payment system.

For now, citizens are encouraged to remain calm, as efforts are underway to ensure uninterrupted fuel availability during the holiday period.