A diesel shortage is being reported across Pakistan as the country braces for a potential increase in petroleum product prices from November 16, sources told ProPakistani.
According to sources, several oil companies have halted diesel supply in Islamabad, resulting in shortages in various regions. The Petroleum Dealers Association confirmed that private oil companies have not supplied diesel for the past three days, leading to mounting concerns among consumers and businesses.
Dealers allege that oil companies have artificially created the shortage, while the diesel supplied by Pakistan State Oil (PSO) is reportedly insufficient to meet nationwide demand.
Petroleum prices may rise by up to Rs. 9.60 per litre in the upcoming revision, with initial calculations reflecting recent trends in the global market. Petrol prices are expected to decrease by Rs. 1.96 per litre, while diesel may see an increase of Rs. 9.60 per litre. Kerosene could rise by Rs. 8.82 per litre, and light diesel oil by Rs. 7.15 per litre.
In Islamabad, the Oil and Gas Regulatory Authority (OGRA) will submit its recommendations to the Petroleum Division on November 15.
The Petroleum Division and the Ministry of Finance will then forward their joint proposal to Prime Minister Shehbaz Sharif for approval. The Ministry of Finance will announce the revised petroleum prices following the Prime Minister’s decision.
Stay Connected with ProPakistani
Get the latest business news, market insights, and economic updates wherever you prefer.
Add ProPakistani to Preferred Sources and see more of our stories in Google Search and Top Stories.
Necessity is the mother of price hike