The Oil and Gas Regulatory Authority (OGRA) has requested detailed records from refineries on petrol and high-speed diesel (HSD) supplies to oil marketing companies (OMCs) during January-August 2024.
The federal government has formed a committee to address the smuggling issue which is causing significant revenue losses.
Meanwhile, OGRA is trying to clarify discrepancies between supplied and sold quantities due to concerns that smuggled products may be mixed with declared fuel products at retail outlets. The authority aims to reconcile supplied quantities with actual sales at retail sites.
Despite documented supplies from refineries to OMCs, smuggling remains a big problem, with an estimated 30-40 percent of the domestic market affected. August saw a 14 percent drop in petroleum product sales compared to the previous year, with a slight 2 percent increase from July to August 2024. The first two months of the fiscal year showed a 12 percent decline in sales compared to the same period last year.
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