Business News | No Fuel Shortage, Stocks Adequate Despite Panic Buying in Telangana: G Kishan Reddy
Get latest articles and stories on Business at LatestLY. Union Minister for Coal and Mines G Kishan Reddy on Wednesday said there is no shortage of petrol, diesel, CNG or LPG in Telangana, asserting that adequate stocks are available despite a sharp spike in purchases driven by misinformation.
New Delhi [India], April 29 (ANI): Union Minister for Coal and Mines G Kishan Reddy on Wednesday said there is no shortage of petrol, diesel, CNG or LPG in Telangana, asserting that adequate stocks are available despite a sharp spike in purchases driven by misinformation.
The Minister reviewed the fuel supply situation in a meeting with Oil Marketing Companies (OMCs) at Dilkusha Guest House in Hyderabad, following reports of panic buying in parts of the state.
Addressing the issue, Reddy said misinformation regarding fuel shortages has led to a surge in demand, with purchases rising by nearly 100 per cent in Telangana. He added that similar rumours have also been reported in Andhra Pradesh and other regions.
"We have enough stock. I have reviewed the situation with all petroleum companies," the Minister said post the meeting with OMCs, dismissing concerns over supply disruptions.
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He attributed the panic buying to misleading claims about a possible increase in fuel prices, and urged people not to indulge in hoarding. Reddy cautioned that storing fuel at home, especially during the summer season, could pose safety risks and increase the chances of accidents.
The Minister also assured that the supply of LPG remains stable, with no disruptions reported.
He emphasised that both the government and oil companies are closely monitoring the situation and maintaining sufficient inventory to meet demand.
The statement comes amid rising concerns triggered by unverified claims on fuel availability and pricing, which led to increased consumer purchases in some areas.
Reddy reiterated that there is no need for panic and advised the public to rely on official information regarding fuel supply and prices. (ANI)
(The above story is verified and authored by ANI staff, ANI is South Asia's leading multimedia news agency with over 100 bureaus in India, South Asia and across the globe. ANI brings the latest news on Politics and Current Affairs in India & around the World, Sports, Health, Fitness, Entertainment, & News. The views appearing in the above post do not reflect the opinions of LatestLY)