New Delhi: In the backdrop of reports on social media that ATMs are likely to be shut in the coming days and there would be shortage of petrol, diesel and cooking gas LPG due to the escalating tensions between India and Pakistan, several banks and oil companies have assured the nation that ATMs are well stocked and there is ample quantity of oil and gas stock. The three firms advised the citizens to stay calm and avoid unnecessary rush, which will help the company in keeping their supply lines running seamlessly and ensure uninterrupted fuel access for all.
The state-owned oil companies – Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPCL) and Hindustan Petroleum Corporation Ltd (HPCL) released statements to assure the public of enough stock availability after social media posts showed people queuing at petrol pumps to stock fuel. States bordering Pakistan witnessed panic buying.
“Indian Oil has ample fuel stocks across the country and our supply lines are operating smoothly,” IOC said in a post on X, adding that “There is no need for panic buying, fuel and LPG are readily available at all our outlets.”
After the government ordered blackouts in several areas in Jammu and Kashmir and Punjab, it led to a fear of escalation in tension and panic buying.
BPCL also assured the public of having sufficient petrol, diesel, CNG, and LPG across its vast nationwide network.
“All BPCL fuel stations and LPG distributorships across its nationwide network are operating smoothly and are fully equipped to meet the energy needs of consumers. There is no cause for concern or panic buying. Our supply chain operations remain robust and efficient, ensuring uninterrupted supplies. We urge all customers to remain calm. BPCL remains steadfast in its commitment to energy accessibility and reliability,” it said.
HPCL said it has sufficient fuel and LPG stocks across the country. “Our supply chain is operating seamlessly. There is absolutely no need for panic buying. Fuel and LPG are readily available at all HPCL outlets. Let’s stay calm and avoid unnecessary rush to ensure uninterrupted service for everyone.”
Rumours of ATM closures ‘false’, ‘unfounded’
Meanwhile, public sector banks – Indian Overseas Bank, State Bank of India, Punjab National Bank, Canara Bank, Bank of India and Punjab of Sindh Bank clarified that all the ATM networks were functioning and dismissed rumours about their closure as “false” and “unfounded”.
The banks released statements to assure the public that ATMs are fully functional and well-stocked after social media posts claiming that ATMs are likely to be shut in the coming days in the backdrop of military conflict between India and Pakistan.
The rumors of ATM closure and possibility of oil and gas shortage occurred on social media after Pakistan tried to escalate tensions by launching missiles at Indian military installations on May 8 night. However, the Indian armed forces neutralised every missile using S-400 Triumph missile systems, Barak-8 missiles, Akash missiles, and DRDO’s anti-drone technologies, reports stated.
Pakistan’s offensive came after India avenged Pahalgam terror attack early May 7 (Wednesday) by striking missiles and drones on nine terror infrastructure in Pakistan and Pakistan-occupied Kashmir.
Amidst escalating India-Pakistan tensions and social media rumors of fuel shortages and ATM closures, major oil companies (Indian Oil, Bharat Petroleum, Hindustan Petroleum) and several public sector banks issued statements assuring the public of ample fuel and ATM availability. Biz News Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
