Petrol shortage likely to worsen as oil companies left with limited stock
KARACHI: A shortage of petrol and diesel at most fuel stations across the country reportedly due to limited supply of petroleum products have added to the miseries of people.
Sameer Najmul Hassan, the chairman of All Pakistan Petroleum Retailers Association (APPRA), said oil companies will likely run out of their oil stocks in the next three days. They have been left with the stock hardly enough to last out more than three days, he added.
He said new quota of petroleum products is not being purchased due to a consistent decrease in the oil companies’ quota. No company other than the Pakistan State Oil (PSO) is purchasing oil at present, the APPRA chairman said.
“The situation seems to be going from bad to worse until Sunday,” he warned.
He said 15 oil marketing companies in total, including the PSO, purchase oil in the country.
A day earlier, the Competition Commission of Pakistan (CCP) had taken notice of the public concerns and complaints regarding the shortage of petroleum products in the country and initiated an enquiry to see whether such a shortage is the result of any anti-competitive activity.
In a news release, the Commission said a sudden shortage of fuel across the country at a time when the government has reduced prices followed by low demand due to COVID-19 pandemic, arises suspicion that artificial shortage might have been created either by limiting supply at the Oil Marketing Companies, and/or hoarding at the distribution level.
The CCP’s enquiry will examine why the impact of the reduction in the prices of oil has not resulted in the corresponding reduction in the prices of the lubricants and other oil-based products.