No panic-buying in Shillong despite second fuel price hike in five days

By Our Reporter

SHILLONG, May 19: Petrol and diesel prices went up by around 90 paise per litre on Tuesday, just four days after an earlier hike of Rs 3 per litre.

Shillong has not yet witnessed panic-buying at petrol pumps, although many consumers have started topping up their vehicle tanks fearing another hike in the coming days. Overall, most petrol pumps in the city reported normal customer flow on Tuesday.

Under the latest revision, petrol prices in Meghalaya have increased by 74 paise per litre, diesel by 79 paise per litre and speed petrol by 75 paise per litre. Petrol is now sold at Rs 99.63 per litre, diesel at Rs 90.94 per litre and speed petrol at Rs 107.22 per litre. Meghalaya charges 13.5% VAT on petrol and 5% on diesel.

Samborlang Diengdoh, proprietor of Samkhamti Petrol Pump at Urkaliar, said there has been no panic buying in the city so far.

“We need to understand that this is a global issue arising out of the US-Iran conflict in the Middle East, which has impacted the world economy,” Diengdoh said.

He stated that as long as the country is able to procure crude oil despite the increasing international rates, there should not be any major concern regarding fuel availability.

“Everything depends on the purchasing power of the nation. If it can continue purchasing crude oil despite the increase in rates, there will not be any problem regarding stock,” Diengdoh said.

He revealed that petroleum dealers have now been directed to make advance payments before lifting fuel stock.

“For every stock we are directed to lift, payment has to be made at least two days in advance. At the end, it depends on how individual dealers manage their funds and financial position. Some dealers may face difficulties if they are unable to adapt to the rotation of funds,” he added.

Stating that there is currently no restriction on fuel purchase, he said customers are free to buy fuel as per their requirement. He appealed to the public to use fuel judiciously and consider alternative modes of transport.

Jagdish Singh, manager of Peak Service Station at Dhankheti, said the increase in fuel prices in Meghalaya is comparatively lower than in several other parts of the country.

“This is a global crisis and not the fault of the Government of India. The increase in petrol prices in Meghalaya is minimal compared to other states,” Singh said.

According to him, customers are increasingly opting to refill their tanks due to fears of another hike in the coming days. He also said that the rise in fuel prices has not translated into additional earnings for petrol pump owners. “There is no change in our revenue because the commission we receive remains the same despite the increase in fuel prices. We are dealers of the Indian Oil Corporation,” he said.