Due to the ongoing tension in the Middle East, a situation of energy crisis is being created at the global level. The impact of this turmoil is also being felt in the country, especially on the gas supply front. Assessing the situation, the government has also issued new guidelines related to gas supply and oil. However, despite government assurances, rumors of shortage of petrol and diesel have spread rapidly through social media.
The result of which was that in many states people ran towards petrol pumps to fill the tanks of their vehicles. Compared to normal days, the demand suddenly increased to such an extent that an atmosphere of chaos was created at many places. People started buying more fuel than required in panic. Due to this ‘panic buying’, the daily stock of petrol pumps started getting exhausted ahead of time, leading to long queues. In reality there is no shortage of fuel, it is a complete rumour.
How much is the stock of petrol and diesel at the petrol pump?
In such a situation, it becomes important to understand how much stock a petrol pump has. According to the standards of Petroleum and Explosive Safety Organization (PESO), the capacity of underground tanks of petrol pumps in India usually ranges between 15,000 liters to 45,000 liters. This capacity is decided on the basis of the location of the pump and the daily sales there. Pumps located in metropolitan cities and on busy national highways are fitted with larger capacity tanks to meet the heavy demand. At the same time, relatively small tanks are installed in small cities or rural areas.
What are the rules to deal with the crisis
The rules are very strict to maintain uninterrupted supply of fuel in the market. Under PESO guidelines, it is mandatory for any petrol pump to always maintain at least three days of reserve stock equal to its average sales. This rule is in place so that even if there is a temporary disruption in the supply chain, common customers do not have to face any immediate problem.
Tankers with capacity of 12,000 to 20,000 liters are mainly used to transport fuel from the refinery or depot to the petrol pump. Their movement passes through stringent security measures. According to the rules, it is mandatory to obtain a direct government license for storing or handling more than 25,000 liters of fuel, while for quantities less than this, permission is required from the companies concerned. This entire system of fuel storage and transportation in India works under ‘Petroleum Rules 2002’. Government oil companies like Indian Oil (IOCL) and Bharat Petroleum (BPCL) also enforce their strict guidelines to keep the supply system running smoothly.