Is Hyderabad Facing Fuel Shortage After Middle East Tensions? Truth Behind Panic At Petrol Pumps

Petrol pumps across Hyderabad witnessed an unusual surge in customers late on Monday after rumours of a possible fuel shortage spread rapidly on social media, triggering panic among residents.

Unverified messages claimed that escalating tensions in the Middle East had disrupted fuel supplies, prompting many to rush to filling stations fearing scarcity.

Late-Night Rush After Taraweeh Prayers

The rush intensified following Taraweeh prayers on the night of March 2, as large crowds headed to nearby petrol pumps to top up their vehicles. Long queues were reported at several outlets across the city, with vehicles stretching beyond station premises.

In some instances, individuals were also seen collecting petrol in water bottles, reflecting the anxiety created by the viral claims. However, there was no official communication indicating any disruption in fuel supply.

Global Oil Prices Surge Amid Iran Strikes

The panic buying coincided with a spike in international crude oil prices. Brent crude rose nearly 9 per cent to approach USD 80 per barrel, while US-traded crude climbed 8.6 per cent to USD 72.79 from around USD 67 on Friday. The increase followed US and Israeli attacks on Iran and retaliatory strikes by Tehran.

India imports about 88 per cent of its crude oil needs. Any sustained rise in global prices can raise the country's import bill and add to inflationary pressures.

No Immediate Petrol, Diesel Price Hike Expected

Despite the surge in crude prices, retail petrol and diesel rates are unlikely to be revised immediately, according to sources. The government continues to follow a calibrated pricing approach that allows oil marketing companies to build margins when international prices are low and shield consumers when prices rise.

Retail fuel prices have remained unchanged since April 2022. Public sector oil companies such as Indian Oil Corporation, Bharat Petroleum Corporation Ltd and Hindustan Petroleum Corporation Ltd have been absorbing losses during periods of high crude prices while offsetting them with gains when global rates ease.

At present, there is no official confirmation of any fuel shortage in Hyderabad, and supplies continue as usual despite the temporary rush at petrol pumps.