TODAY -

Of low fuel stock and panic buying : Completing the circle
- The Sangai Express Editorial :: July 19, 2012 -

Customers queuing up at a petrol pump at night-time :: 12 July 20129
Customers queuing up at a petrol pump at night-time on 12 July 2012 :: Pix - Bunti Phurailatpam



Panic buying and petrol mania. Dry petrol pumps and a flooded black market.

This is where the term artificial scarcity gains currency and is directly proportionate to the observation that the longer the queues outside petrol pumps the fatter the wallet of the fuel cartel.

Clearly it is not only a case of demand outstripping supply or availability but creating an ambience that fuel will no longer be available at the petrol outlets openly.

With the State Level Co-ordinator of the Indian Oil Corporation already pressing the warning bell, Manipur seems set to weather another season of dry spell, as far as petroleum products are concerned and it is obvious that the circle is complete.

Nine days of bandh on National Highway-2, imposed this time by the Southern Angami Youth Organisation, and suddenly the State finds itself staring at yet another round of fuel scarcity.

90 kilolitres of petrol is the daily requirement of the State, as pegged by the IOC and with only 755 Kl available as in the morning of July 18, the petrol stock will last for only 8 days, six days to be precise when readers read this in the morning of July 20.

Already rationing has started with the oil depot at Chingmeirong releasing 204 Kls to 26 petrol pumps located across the States on July 19.

Now if one goes by the daily requirement figure of the IOC, the 204 Kls released on July 19 will last a little over 2 days but the question of whether petrol pumps will remain open two days or will shut down without completing even one day is anybody's guess. This is where the panic buying alibi will come in handy while petrol in the black market will abound.

Simple and yet confusing. Low fuel stock and fear of being left stranded are obviously the primary factors to trigger panic buying and in turn panic buying also has a direct impact on the stock position of fuel.

The presence of a fuel cartel, with their fingers on the right places, complete the chain of the fuel scarcity drama. It is a circle, with no one yet able to pin point the starting block.

Low stock triggering panic buying or panic buying leading to depleted stock. Such a confusing scenario provides the right opportunity to line the pockets of those in positions of power and influence via the black market and a pattern emerges.

And so while different factors are responsible for making fuel scarcity an annual affair, there are some who stand to gain by such a dry spell, materially.

Alternative lifeline is the tag given to the Imphal-Jiri route and the Government should be quizzed on why this route was not used during the 9 days bandh called by the Southern Angami Youth Organisation on NH-2.

Or does the term alternative lifeline mean something different to the Government and those who run it ?

A 96 hour total bandh from July 23 is already on the card, courtesy the United Naga Council, giving more teeth to its demand for an Alternative Arrangement for the Nagas living in Manipur and gradually it becomes clear that there is every likelihood that the present spell of fuel scarcity will be extended.





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