Karnataka - Bangalore   

‘Don’t resort to panic buying’

BANGALORE: The public sector oil companies have urged the public not to resort to panic buying of diesel. Oil companies had been supplying sufficient quantity of diesel and had sufficient stock, they said.

Reacting to news reports on diesel “scarcity,” B. Ashok, State-level coordinator for the oil industry in Karnataka and General Manager, IndianOil , Karnataka, said the oil companies — Indian Oil Corporation, Bharat Petroleum Corporation and Hindustan Petroleum Corporation — have been meeting the full demand for diesel.

The shortage of diesel as reported by the media, Mr. Ashok said, was due to the abnormal increase in the demand compounded by power cuts and loadshedding imposed in the past one week.

Against a normal growth of about 12 to 15 per cent over the previous year’s sale during the same period, the growth during July 2008 in diesel sales for the oil industry had been around 30 per cent for the entire State and 32 per cent for Bangalore city.

In the past four days, the diesel supply to petrol stations in Bangalore city had been 9,500 kl, showing a growth of 80 per cent over the previous year’s average sales during July.

For the entire State, the supplies had been 45 per cent more over the same period last year.

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