Petroleum stockpile

The West Asia war has also focused attention on the long-languishing plans to build storage for strategic petroleum stockpile. Panic buying and hoarding across Nepal on 2 March following the Gulf war doubled fuel sales, Holi, and elections. Nepal Oil Corporation reported nationwide petrol sales at 4,700 kl, while the average is 2,500 kl. Kathmandu Valley’s Thankot depot supplied 1,650 kl petrol and 1,250 kl diesel. Long queues formed amid fears of shortages or price hikes. Nepal imports all its petroleum from India, which used to source it from Russia, but the Strait of Hormuz blocked supplies of gas and crude oil.