Petrol Sales Surge Amid Panic Buying in Nagpur Panic buying in Nagpur led to a dramatic increase in petrol and diesel sales, with daily volumes doubling in the region. According to a senior official from a public sector oil company, the sale of petrol in Vidarbha reached nearly 2,200 kilolitres (KL) on Tuesday, more than double the usual daily quota of 800 KL. Diesel sales also spiked, rising by 1.5 times the normal rate. The surge continued into Wednesday, causing widespread shortages at fuel pumps as replenishment efforts lagged behind demand. In Nagpur city, both fuels saw their sales double on Tuesday, with the trend persisting into Wednesday. This rapid depletion of stock left many pumps dry, as the supply chain struggled to keep up. The three major public sector oil companies operating in the region—BPCL, Nayara Energy, and IOCL—collectively hold a market share of 30% to 35% each. Combined, their sales during the panic period are estimated to have reached 6,000 KL of petrol and 10,000 KL of diesel, equivalent to the total stock held in a single petroleum depot. The panic began in Gujarat and spread to Maharashtra, according to sources. The rapid sales were exacerbated by delays in restocking, primarily due to a shift in payment policies. Petrol pumps were required to make advance payments before receiving refills, a change enforced by the oil companies following the West Asia crisis. In normal circumstances, such restrictions could lead to dry runs, but the situation worsened as dealers faced delays in receiving credit. Amit Gupta, president of the Federation of Maharashtra Petroleum Dealers Association (FAMPEDA), explained that pump owners now had to deposit daily cash in banks and transfer it via RTGS to the companies. This process took two to three hours, leaving dealers unable to refill tankers after 2:30 pm.#nagpur #iocl #bpcl #nayara_energy #fampeda
Around 30 petrol pumps ran dry in Nagpur on Wednesday, prompting the district collector to urge oil companies to ensure maximum supply. Collector Vipin Itankar directed officials of petroleum firms to address the issue after members of the Federation of Maharashtra Petroleum Dealers Association (FAMPEDA) highlighted the shortage. The dealers, along with oil company representatives, met the collector to discuss supply constraints caused by restricted operating hours and limited credit facilities. The Nagpur administration also coordinated with Wardha authorities to keep the Nayara Energy depot operational beyond 2:30 pm, as the facility’s timing restrictions were slowing down tanker refills. Dealers reported that the strict payment deadlines imposed by some companies, such as BPCL’s Borkhedi pump requiring cash before 2:30 pm, were disrupting refilling processes. Oil company officials were asked to relax payment terms and allow credit to ease the situation. The collector emphasized that there was sufficient stock of petrol and diesel in the district, though consumer behavior had shifted dramatically. Panic buying had led to abnormal spikes in fuel purchases, with two-wheeler riders buying up to Rs 600 worth of fuel instead of their usual Rs 100, while four-wheelers increased their average spending to Rs 2,000–6,000 compared to Rs 300–600. The collector’s note stated that the district had 10,500 kilolitres of petrol and 3,500 kilolitres of diesel in storage, referencing the Borkhedi depot. Amit Gupta, FAMPEDA president, called for consumer restraint, while Viraj Lamba, a dealer at Indora Chowk, noted that panic buying persisted on Wednesday. Officials claimed operations could be managed smoothly with support from the companies.#nagpur #nayara_energy #district_collector #fampeda #borkhedi_pump
