Panic Buying At Petrol Stations

North Cyprus News - Cars Queue - Petrol StationMajor fuel suppliers K-Pet and Al-Pet have said it is financially unviable to sell fuel to garages because of the weakened Turkish Lira, Yeniduzen reported.

Since the word got out, there have been reports of long queues at petrols stations as panic buying of fuel begins by motorists fearing shortages of supply.

Vice President of the Petroleum Association Ertan Fidan, said that after the increase in foreign exchange, K-Pet and Al-Pet have stopped selling fuel to petrol stations because they are losing 1.30 TL/litre in fuel sales.

Fidan told Yeniduzen that, currently, there is a serious increase in foreign exchange, and this situation has affected the fuel supply sector.

Fuel will be on sale at petrol stations while stocks last, he said. Meanwhile, discussions on the issue are continuing and the Ministry of Economy is trying to find a solution to the problem.

Yeniduzen

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