Fuel Shortage Hits Kochi as Price Hike Fears Trigger Panic Buying

Kochi: Petrol pumps across Kochi and several other parts of Kerala are displaying 'Out of Stock' boards as a sudden fuel shortage grips the region, triggered by news that a price hike is imminent following the conclusion of assembly elections in multiple states.

Oil companies are reportedly not supplying dealers with adequate quantities of fuel, and have also instructed that pumps with existing stocks need not be replenished — a combination that has caused the shortage to worsen rapidly.

Critics allege that hoarding by dealers seeking to profit from the anticipated price rise is a major factor behind the acute situation. The crisis is compounding the pressure on the transport sector and commuters. Motorists rushing to fill their tanks in anticipation of the hike are further straining available supplies.

The fuel shortage comes hard on the heels of a sharp hike in commercial LPG cylinder prices, which has already pushed the hotel and catering sector into difficulty. Small eatery owners and street food vendors are being forced to pay over double the price at private gas agencies, with some driven to the black market after authorised supplies dried up.