Panic Buying of Fuel Triggered by Rumours; Government Assures Adequate Supply

PTI, April 27, 2026, New Delhi : Rumours triggered panic buying of petrol and diesel in parts of the country, leading to an “exceptional” surge in demand, the government said, adding that fuel stocks remain sufficient to meet requirements.

In Andhra Pradesh, rumours of an imminent price rise led to panic buying in several towns, resulting in shortages and more than 400 petrol pumps running dry on Sunday, according to reports.

“We have observed exceptional growth in certain areas... 30-33 per cent increase in demand for fuels like diesel. That is the reason why certain retail outlets faced issues,” said Sujata Sharma, Joint Secretary in the Ministry of Petroleum and Natural Gas, at a press briefing.

She, however, hastened to add that oil companies are addressing the issue. “There is no issue of availability. We have enough stocks.”

Despite panic buying at certain retail outlets due to rumours, Public Sector Undertaking (PSU) oil marketing companies are ensuring adequate stocks of petrol and diesel at their outlets.

“PSU retail outlets are operating normally,” she said.

“Citizens are advised to avoid panic purchase of petrol, diesel and LPG as the government is making all efforts to ensure availability of petrol, diesel and LPG.”

While she did not elaborate on the rumours, speculation about a possible price hike after the final phase of voting in West Bengal on April 29 may have triggered the panic buying.

Despite a surge in international crude oil prices, retail petrol and diesel rates in India have remained unchanged as state-owned oil companies absorb the impact. Analysts, however, have questioned how long oil companies can sustain prices without government support.

Sharma said India has maintained adequate supplies of petrol, diesel and cooking gas despite ongoing geopolitical tensions.

Refineries are operating at high capacity with sufficient crude inventories, ensuring stable fuel supply. To shield consumers from rising global oil prices linked to geopolitical tensions, the government has cut excise duty on petrol and diesel by ₹10 per litre while raising export levies on diesel and aviation turbine fuel.

Retail fuel prices remain unchanged at public sector outlets, the government said, adding that adequate stocks are available despite isolated instances of panic buying triggered by rumours.