The government on Friday announced an increase in petrol price by Rs1.71 per liter as the country’s stocks dwindled due to supply disorder.
Special Assistant to the Prime Minister on Political Affairs Shahbaz Gill tweeted that the price of petrol was being increased by Rs1.71 per liter on the advice of OGRA, while that of diesel was being kept unchanged.
Interestingly, OGRA had suggested a reduction of Rs2.27 per liter in the price of high-speed diesel but at the request of the Finance Division, the reduction was absorbed against an equivalent increase in petroleum levy.
Shahbaz tweeted that the ex-depot price of petrol was increased by 1.5 percent to Rs119.80 from Rs118.09 per liter. The price of kerosene was raised by 35 paisa to Rs87.49 per liter. The prices of high-speed diesel (HSD) and light diesel oil (LDO) were kept unchanged at Rs116.53 and Rs84.67 per liter.
PETROL STOCKS: According to a senior government official, the country’s overall petrol stocks had fallen below 260,000 tonnes that were equivalent to less than 10 days of consumption. After excluding Sindh where petrol stocks are enough for about 30 days, the product’s availability in Punjab and Khyber Pakhtunkhwa is for less than five days and in Balochistan and northern areas for three days.
Higher consumption, high tide at the sea, poor planning and stock management were termed key reasons for the shortage.
The Petroleum Division requested the Ministry of Maritime Affairs to prioritise the berthing of vessels carrying petrol. “Keeping in view the critical demand/supply position of petroleum products, it is requested that sequence for berthing” of petrol be prioritised at Karachi Port Trust and Fauji Oil Terminal Company between July 31 and Aug 3, it said.
