Petroleum dealers fear of ending up with loss on the stock on hand in the event of a reduction in petrol and diesel prices were contained to some extent with the oil tanker drivers strike on Tuesday resulting in a customer rush for petrol and diesel.
Though unintended it is likely to help cut down losses if the fuel prices are slashed immediately, a leader of the petroleum trade said. Any decision on revising prices of widely consumed petroleum products such as petrol and diesel, however, are taken only at the highest level. Little is known until the new rates are announced, he hastened to clarify on the lack of information about such changes with the dealers.
The strike, which resulted in motorists queuing in front of fuel outlets in many States across the country, including in the twin cities of Hyderabad-Secunderabad, also caused traffic snarls on many roads and eventually led to some of the outlets declaring stock out. The drivers of the tanker lorries on contract with the national oil marketing companies, some of whom are owners of the vehicles, were protesting against the new stringent provisions introduced against those accused in hit-and-run cases.
