February 8, 2023
1 min read

Petrol shortage hits Pakistan

Some petrol pumps have now stopped the supply to customers as they plan to store the commodity and sell it after a likely increase in the price in the coming days….reports Asian Lite News

As rumours about an impending increase in the prices of petroleum products are rife, oil shortage has again gripped Pakistan mainly because of hoarding of stocks and failure of several companies to import the commodity.

Last month, the government had raised the price of petrol and diesel by 35 PKR per litre each, a couple of days before the scheduled date of revising oil prices, apparently bowing to hoarders rather than taking action against them, The Express Tribune reported.

Some petrol pumps have now stopped the supply to customers as they plan to store the commodity and sell it after a likely increase in the price in the coming days.

However, some companies that failed to import the petroleum products due to issues in the opening of Letter of Credit (LCs) were also unable to supply the fuel to their retail outlets, which led to the shortage of products.

Sources told The Express Tribune that the country had sufficient stocks of petrol and diesel to meet the demand for around next 20 days.

They said that currently, only six top companies — Pakistan State Oil, Total, Go, Shell and APL — had the stocks of petroleum products.

The country has a total of 9,800 petrol pumps out of which the six companies have a network of 6,000 retail outlets.

The remaining oil marketing companies have not been able to import petroleum products due to issues in the opening of LCs to feed the rest of 3,800 retail outlets, The Express Tribune reported.

ALSO READ: Saudi, Czech close embassies in Afghanistan

Previous Story

‘Van Gogh 360-degree’ in Delhi

Next Story

‘US economy better positioned to grow than any on Earth’

Latest from -Top News

AU Backs New UN Libya Roadmap

The Roadmap seeks to resolve the Libyan crisis through a political process centred on institutional unification…reports Asian Lite News The Chairperson of the African Union Commission (AUC), H.E. Mahmoud Ali Youssouf, has

Sudan Feels Impact of GERD

The GERD project remains a point of contention among Nile Basin countries….reports Asian Lite News Water levels in Sudan’s Blue Nile have fallen to record lows following Ethiopia’s announcement that it has

UNESCO sounds alarm on teacher gap

Amina Mohammed proposed a five-point plan to strengthen the profession through greater investment, gender equality, support for digital learning…reports Asian Lite News At the UNESCO World Summit on Teachers in Santiago, Chile,

Modi Ends China Trip, US Hails India Ties

US termed India-US ties as a “defining relationship of the 21st century”, stating that partnership between both countries continues to reach new heights….reports Asian Lite News Shortly after videos and images of
Go toTop

Don't Miss

Terrorist killed in North Waziristan

During the operation, weapons and ammunition were reportedly recovered….reports Asian

Pakistan’s $7b IMF deal in trouble, tax hikes loom

The IMF is again pressuring Pakistan to let the rupee