You have probably heard the news that fuel pumps are drying up in different parts of the country. We will discuss the real reasons for this and whether it is a permanent crisis or not.
This video discusses in detail the reasons for the drying of fuel pumps in many regions of the country. You may have seen reports of people waiting in long lines in front of gas pumps in different cities and not having access to fuel. Many people are beginning to think that this could be the beginning of a fuel crisis in India, as in Sri Lanka. However, this is not true at all, as we will discuss the real causes of this temporary shortage.
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Causes of drying of petrol pumps
Youtuber explains all aspects of this seemingly scary situation. First of all, you need to understand that not all oil companies have their own refineries. This means that regardless of Indian Oil, Reliance, Bharat Petroleum or any other fuel pump, it gets gasoline and diesel from a nearby refinery. Oil is produced in accordance with established standards, which is the same at all gas stations. There are currently 25 refineries in India, 18 of which are state-owned, 3 are private and 2 are joint ventures.
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Crude oil prices on international markets are rising due to the current geopolitical situation in the world. As a result, these refineries are suffering huge losses. Now government refineries can cover these temporary costs, and private refineries are now closing. They cannot support their business due to operating costs. As a result, the supply of gasoline and diesel fuel has decreased significantly. But this is not a real problem.
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The real reason for this temporary crisis is the timing of the situation. It is also a time when agricultural vehicles need diesel fuel, as it is the agricultural season in most parts of the country. Therefore, the demand has increased significantly compared to the same period last year. As you can imagine, the supply is a little low and the demand has suddenly increased. But both factors are temporary and the crisis is unlikely to last long. Therefore, one should not believe in false news and be aware of the news in space.
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