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| Kathmandu, Friday March 21, 2003 Chaitra 07, 2059. |
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US-Iraq war creates fear
of petroleum shortage
NOC says it has enough stock
By Milan Mani Sharma
KATHMANDU, March 20 : Following the US attack on
Iraq, the fear of petroleum crisis gripped the capital today as a large number of
consumers queued up for hours to buy kerosene and petrol. The fear of shortage during the
war period has been attributed to creating the panic.
"The total demand of kerosene and petrol in
the capital soared by some 40 per cent today, while Nepal Oil Corporation’s (NOC)
supply stood nowhere near to fulfill the demand," said Saroj Pandey, President of
Nepal Petroleum Dealers Association (NPDA).
The NOC’s supply of kerosene and petrol
today was maintained at its regular level of 3,500 kilolitres and 180 kilolitres
respectively. On any normal day, this would have fulfilled the demand for nearly two days,
but not today, added Pandey.
He claimed that the capital-based dealers sold a
total of 3,750 kilolitres of kerosene and 225 kilolitres of petrol on Thursday. "All
dealers finished their stock as well to maintain the supply," he said.
To contain the increased demand, petroleum
dealers restricted per person supply to 10 litres. But still, the consumers were seen
returning empty-handed from various dealers in Kalimati, Ratnapark and Bagbazaar, among
others.
Consumers’ rush in fact had commenced from
yesterday, according to Shyam Kumar Karki, an accountant of a petrol pump in Bagbazaar.
"It worsened today after the US actually started attacks on Iraq," he said,
adding that the consumers are panicky due largely to the fear that US-Iraq war might
affect the supply and price. Even the NOC officials conceded to it.
Shiva Prasad Gautam of Ason, who had to be in a
queue for an hour with his son and niece to buy 20 litres of kerosene, said, "Attack
on the oil supplying country might result in a short-supply of the product. Hence, I
secured a month’s requirement today."
Few consumers including Ram Bahadur Thapa of
Bagbazaar attributed the fear of price rise in the wake of US-Iraq war to the latest
panic. Meanwhile, the demand of diesel was not affected at all.
"The panic is concentrated on the capital
only. Hence, no effect on diesel," said Pandey, adding that the situation might
change if the panic extends beyond the valley. Speaking on the NOC supply, he argued that
the NOC must enhance its capacity to speed up the supply level to avoid further crisis.
The NOC officials, meanwhile, expressed surprise
over the havoc seen in the market. "People are panicky for nothing. The NOC is
receiving the fuel regularly from India and has enough buffer stock to fulfill the
national demand for about a month," said Rudra Bahadur Khadka, acting managing
director of the NOC.
According to sources, the NOC currently has
60,000 kilolitres of petroleum stock. Its storage capacity is 68,000 kilolitres. Khadka
further said that the Indian Oil Corporation has committed to maintain smooth supply to
Nepal. "Nepal does not buy oil from Gulf countries, but India. People need not worry
for the supply," he added.
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