Diesel 'shortage' reported nationwide amid possible hike

ISLAMABAD: Diesel ‘shortage’ is being reported nationwide amid a potential increase in petroleum product prices from November 16, ARY News reported on Friday, citing sources. 

Sources privy to the development report that oil companies have halted the supply of diesel in Islamabad. The reported suspension has led to diesel shortages in various regions.

According to the Petroleum Dealers Association, private oil companies have not been supplying diesel for the past three days.

Petroleum dealers claim that oil companies have artificially created a diesel shortage in the market. They added that the diesel supplied by PSO is insufficient to meet nationwide demand.

From November 16, petroleum products may become costlier by up to Rs 9.60 per litre. Initial price calculations have been prepared in light of the global market situation, according to sources.

Petrol is expected to decrease by Rs 1.96 per litre, while diesel may see an increase of Rs 9.60 per litre. Kerosene prices are likely to rise by Rs 8.82 per litre, and light diesel oil may become costlier by Rs 7.15 per litre.

In Islamabad, OGRA will send its working to the Petroleum Division on November 15. The Petroleum Division and the Ministry of Finance will forward their joint working to the Prime Minister.

Following approval from Prime Minister Shehbaz Sharif, the Ministry of Finance will announce the revised petroleum prices.