Mohali, March 6: Panic buying of fuel has gripped several parts of Punjab, with petrol dealers reporting an unusual spike in demand linked to the conflict between Iran and Israel. Rural filling stations are currently managing a nearly 40 per cent rise in sales as consumers attempt to hedge against potential price increases and supply disruptions.
Ashok Sachdeva, who heads the Punjab Petrol Dealers’ Association, affirmed that the proximity of the harvest season has made farmers especially cautious. He stated that the fear of a shortage in the coming weeks has driven many to buy in bulk. Sachdeva declared that while oil companies have promised a steady flow of products, the “noticeable rise” in sales persists regardless of these guarantees.
The trend has been observed by agricultural representatives as well. Tarsem Jodhan from the Sanyukt Kisan Morcha asserted that the bulk buying is a result of people wanting to avoid risks during an unpredictable international crisis. He stated that the general sentiment suggests a belief that a month-long war could eventually trickle down to affect Indian fuel markets.
While the central government and oil firms have not reported any direct impact on India’s current reserves, the local demand continues to climb. Residents have stated their concerns that oil companies might increase prices if the geopolitical situation does not stabilize soon.
Sachdeva maintained that although urban sales have also risen by approximately 25 per cent, the rural sector remains the most volatile. He affirmed the importance of not storing fuel at home due to safety risks, even as he noted that prices often respond to shifts in the demand-supply balance.
