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

Guterres fears global conflict escalation

Latest from -Top News

Vatican Hosts Final Rites for Pope Francis

The Argentine-born pontiff, the first from Latin America, died less than a month after returning home from a prolonged five-week hospitalisation for double pneumonia….reports Asian Lite News In an outpouring of global

US Backs India’s Hunt for Pahalgam Terrorists

Gabbard’s “hunt down” message comes amidst escalating Indian response to the terrorist attack, saying it had clear “cross-border” links to Pakistan….reports Asian Lite News Tulsi Gabbard, Director of National Intelligence (DNI), on

Border Sealed, Hopes on Hold

A Hindu family from Balochistan’s Sibi was reportedly denied entry into India after the closure of border crossing….reports Asian Lite News Pakistan and India’s decision to shut down the Wagah-Attari border crossing

India Praises UAE’s Global AI Benchmark 

Kaustubh Dhavse, Maharashtra CM’s OSD, hailed the UAE’s AI model as a global benchmark driving digital innovation and attracting global talent…reports Asia Lite News Kaustubh Dhavse, Joint Secretary and Officer on Special

India, Saudi Hold Inaugural Army Staff Talks 

A key highlight of the talks was the exploration of collaboration in operational logistics, battlefield management systems, and niche technologies.  The inaugural Army-to-Army Staff Talks (AAST) between the Indian Army and the
Go toTop

Don't Miss

Imran alleges US conspiracy to set up military base in Pakistan

Imran Khan was speaking at a seminar titled ‘Regime Change:

Court rejects bail pleas of PTI leaders including Qureshi

Judge Tahir Abbasi Supra took up the bail pleas of