City residents are grappling with shortages of petrol and diesel at filling stations, even as cash crunches continue to plague automated teller machines (ATMs) across the city. ATMs and fuel stations are frequently running dry, forcing consumers to move from one outlet to another in search of cash or fuel.
Lead District Manager Aparna Sharma acknowledged the shortage of liquidity in ATMs, saying the Reserve Bank of India (RBI) had not been releasing adequate cash supplies.
Similarly, employees at filling stations said supplies of petrol and diesel had been curtailed by state-run oil companies, compelling many outlets to shut earlier than usual. Davinder Singh, a private building contractor, said he recently found all ATMs along the GT Road stretch, from the New Amritsar locality to the Inter-State Bus Terminus (ISBT), without cash.
“It was harassment in the scorching heat to stop at every ATM hoping to withdraw cash. Each time, I came out empty-handed,” he said.
Residents said the shortage was not confined to any particular bank, with cash scarcity being reported at ATMs across the city.
Harshpreet Singh, who works for an online delivery company, said his livelihood depended entirely on mobility. He said he often had to spend considerable time searching for a filling station with petrol in stock.
Arvind Bajoria, a company secretary, noted that the shortages were linked to recent austerity measures introduced after Prime Minister Narendra Modi appealed to citizens to adopt restrained consumption patterns for a year in order to support the economy, and conserve foreign exchange reserves.
He said India remained heavily dependent on imported crude oil, much of it sourced from West Asia, which was currently grappling with conflict and instability, making the economic impact unavoidable.
The conflict in West Asia has disrupted global crude oil supplies, leading to a sharp rise in prices. Shipping and supply chains have become uncertain, transportation costs have increased and inflationary pressures have mounted.
To contain the situation, Modi has urged citizens to reduce petrol and diesel consumption by increasingly using public transport, carpooling and electric vehicles (EVs).
These measures are aimed at reducing fuel consumption at a time when global economic conditions remain uncertain.
