Bhatkal residents queue up at petrol pumps fearing shortage of fuel, prices hike due to Iran strikes

Bhatkal: Several petrol pumps across Bhatkal witnessed long queues on Wednesday as residents rushed to refuel their vehicles following fears of possible fuel shortages and price hikes linked to tensions in the Middle East.

At many outlets in the town, people were seen waiting in line for petrol and diesel. Some residents also filled fuel into bottles and small containers as a precautionary measure amid uncertainty about future supply.

The rush comes after military strikes carried out by the United States and Israel on Iran and the retaliatory actions by Tehran, which have raised concerns about global crude oil supply. The situation has drawn attention to the Strait of Hormuz, a crucial shipping route connecting the Persian Gulf with the Gulf of Oman.

Iran has reportedly restricted maritime movement through this narrow waterway, through which a significant share of the world’s crude oil shipments passes. Any disruption along this route has the potential to affect global oil markets and fuel prices.

Following reports of restrictions in shipping movement, Brent crude prices crossed $85 per barrel on Tuesday, marking the third consecutive day of increase. Analysts say continued geopolitical tensions in the region could lead to further fluctuations in oil prices.

India imports a large portion of its crude oil from Gulf countries, and nearly half of these imports pass through the Strait of Hormuz. Energy experts say that prolonged instability in the region may create challenges for global supply chains and could eventually influence domestic fuel prices.

Meanwhile, Union Petroleum Minister Hardeep Singh Puri has said that India currently has adequate reserves of crude oil and petroleum products, including petrol, diesel and aviation turbine fuel (ATF), to meet domestic demand in the short term. According to official sources, oil marketing companies are holding around 25 days of crude oil stocks along with an additional 25 days’ supply of refined petroleum products.