Tag: petrol pumps

  • Petroleum dealers demand commission hike, threaten countrywide petrol pump shutdown

    Petroleum dealers demand commission hike, threaten countrywide petrol pump shutdown

    The petroleum dealers have issued a formal threat to initiate a nationwide strike in their pursuit of an increase in commission rates from the government.

    The petroleum dealers have expressed their intention to cease operations at petrol pumps throughout the entire country, while simultaneously demanding that the government reinstate a 5 per cent profit margin.

    Abdul Sami Khan, Chairman of the Pakistan Petroleum Dealers Association (PPDA), emphasised that they are unable to sustain the sale of petroleum products at the current commission rates for dealers.

    Khan further announced the urgent convening of a meeting in Lahore on July 12th, with the purpose of addressing these concerns. He asserted that the sale of petroleum products has experienced a significant decline of 40 per cent due to the prevalence of smuggled petrol and diesel in the nation.

    In the previous year, the dealers had demanded that the dealer’s margin be fixed at 6 per cent and had issued a similar nationwide strike threat.

    Earlier, the oil marketing companies (OMCs) had written a formal letter to the Oil Companies Advisory Committee (OCAC), requesting the federal government to establish OMC’s margin for petrol and high-speed diesel (HSD) at Rs12 per litre.

    It has come to light that the dealers’ commission had experienced a notable increase of over 25 per cent to Rs7 per litre in 2022. According to ARY News, this increase coincided with the adjustment of OMC’s margins from Rs3 and Rs3.68 per litre on petrol and HSD, respectively, to Rs6 per litre in November 2022.

  • Petrol, diesel prices expected to increase by more than Rs32 per litre from tomorrow

    Petrol, diesel prices expected to increase by more than Rs32 per litre from tomorrow

    The prices of petroleum products are expected to increase by more than Rs32 per litre from February 16th, due to fluctuations in the US dollar exchange rate. The current price of petroleum, oil and lubricants is set at Rs236.40 per dollar, which equates to Rs271.82 for the next fortnight. It’s worth noting that free-on-board Platt prices have seen a decline when compared to last fortnight’s pricing.

    Official and industrial sources have indicated that the price of Mogas is expected to increase by 12.8 per cent per litre, or by Rs32.07, resulting in a new price of Rs281.87 from the previous price of Rs249.8 per litre. The price of diesel is also set to rise by 12.5 per cent, or by Rs32.84, to reach Rs295.64 per litre, up from the previous price of Rs262.8 per litre.

    Kerosene oil is predicted to increase by 14.8 per cent, or by Rs28.05, bringing the new price to Rs217.88 per litre. Additionally, light diesel oil (LDO) could go up 5.3 per cent, or by Rs9.90, resulting in a new price of Rs196.90 per litre from Rs187 per litre set in the last review.

    According to The News, based on current government taxes and estimated Pakistan State Oil (PSO) incidentals, the prices mentioned above are projected. However, there is a possibility of the government adjusting the exchange rate to over Rs251, which could result in an increase of Rs15 per litre for both Mogas and diesel products. Moreover, the petroleum levy for diesel, currently standing at Rs40, may increase by Rs10 to reach Rs50 from February 16th.

    The government had set a target of earning Rs850 billion by imposing a petroleum levy on petroleum, oil, and lubricants. However, there is an estimated shortfall of Rs250 billion, and the authorities are hoping to collect a revenue of Rs600 billion.

    It’s worth noting that the government had implemented a significant increase of Rs35 per litre from February 1st, 2023, until February 15th. Presently, the government is charging Rs50 per litre as a petroleum levy, and the general sales tax (GST) has not been imposed yet.

    According to an official, the losses incurred by the refineries and oil marketing companies (OMCs) due to the exchange rate will be eliminated in a phased manner, as the government does not wish to burden consumers with the entire exchange rate at once.

    The federal government’s last review of petroleum product prices took place on January 29, 2021.

    At present, Pakistan is experiencing a shortage of petrol, with the province of Punjab, which has the largest population, bearing the brunt of the crisis. Petroleum dealers have been blamed for the situation.

    Additionally, it has been alleged that hoarders are stockpiling petrol in anticipation of a price hike scheduled for February 15th (today).

  • Pakistan has enough petrol for 20 days: Musadik Malik refutes fuel shortage rumours

    Pakistan has enough petrol for 20 days: Musadik Malik refutes fuel shortage rumours

    On Tuesday, many petrol stations in the cities of Punjab were closed, causing inconvenience for commuters searching for fuel. However, State Minister for Petroleum, Musadik Malik, refuted reports of a nationwide fuel shortage.

    Despite a recent increase of Rs35 per litre in petrol and diesel prices, consumers are still facing difficulties due to limited supply.

    This situation mirrors a similar occurrence earlier this month prior to the price hike. On January 29, the government raised the prices of petrol and diesel by Rs35 per litre in response to the significant devaluation of the rupee against the dollar.

    The devaluation of the local currency against the dollar reached historic lows after the unofficial cap on the greenback was removed. Consumers in cities such as Faisalabad, Gujranwala, Sargodha, Shakargarh, Khushab, Mandi Bahauddin, and Gojra have encountered difficulties obtaining fuel. Petrol stations that remained operational have experienced long lines of vehicles, with reports of owners rationing the commodity by only providing limited amounts to customers.

    According to Geo, the State Minister for Petroleum has issued a warning against hoarding, as the fuel supply is already precarious. The minister stated that hoarders should be prepared for the possibility of having their licenses revoked.

    He said that there is a 20-day supply of petrol and a 25-day supply of diesel in the country. He urged the public to report any petrol stations that may be restricting supply for profit.

    Malik emphasized that there is no shortage of petrol in the country and confirmed that there will be no increase in the prices of petroleum products before February 15.

  • Govt increases petrol, diesel prices by Rs35 per litre

    Govt increases petrol, diesel prices by Rs35 per litre

    Finance Minister Ishaq Dar on Sunday announced that the federal government has decided to hike the prices of petrol and diesel by Rs35 per litre, which will be applicable from 11 am today.

    Dar said that 11 per cent increase was witnessed in the prices of petrol products in the international market.

    The prices of kerosene oil and light diesel oil have been increased by Rs18 per litre.

    After the latest round of hikes, petrol is now priced at Rs249.80, diesel at Rs262.80, kerosene oil at Rs189.83 and light diesel at Rs187.

    The minister was of the view that prices of petroleum products were not increased in the past 4 months, adding that prices of diesel and kerosene oil also decreased during the period.

    The minister went on to say that the speculations had also led to an artificial shortage of petroleum products in the market. “On social media, it was reported that [fuel prices] were to be jacked up by Rs47-80 which unfortunately became an incentive for them [hoarders],” he added, “because of this, we have received reports of artificial shortages in the market.”

  • Here’s where you can get petrol in Lahore

    Here’s where you can get petrol in Lahore

    Following oil industry’s warning of possible petroleum product shortages in Punjab and neighbouring areas due to road and highway blockades, a number of petrol pumps in the city have been closed.

    Majority of petrol pumps in Lahore have been shut, particularly in the Cantt, DHA, Gulberg, and Johar Town area. When asked, the majority of retailers refused to comment on when petroleum sales would resume.

    We have, however, contacted multiple managers of prominent petrol pumps in Lahore and asked if they are currently selling fuel.

    Here are a few filling stations in different parts of the city that are still selling fuel:

    1. Euro Oil petrol pump opposite Shahnawaz Mercedes-Benz Showroom Gulberg
    2. Total parco Mazang road, Mazang Chungi
    3. Hascol DHA phase 2 U Block, opposite DHA cinema
    4. PSO Chowk Thokar Niaz Baig , Multan Road

    Earlier, Oil Companies Advisory Council (OCAC) said that oil marketing companies are supplying fuel to retailers but the deliveries could be slowed owing to road blockages in Punjab’s major cities.

  • Nation-wide petrol strike: List of Petrol stations that are still open today

    Nation-wide petrol strike: List of Petrol stations that are still open today

    The Pakistan Petroleum Dealers Association (PPDA) has launched a nationwide strike today. PPDA is demanding that dealers’ profit margin on petroleum products be increased to six per cent the current three per cent.

    Earlier, the dealers had announced the strike on November 5 but withdrew it after a government delegation held a meeting with them on November 3 to fulfil their demands.

    However, some petrol pumps are opened today. The Pakistani Energy Ministry, which is verified on Twitter, in a tweet mentioned the names of the petrol pumps that are open today. The petrol pumps which are open today include some from HESCO, GO, SHELL and PSO.

    Read more- All petrol pumps will be closed, petroleum dealers announce strike on Nov 25

    Deputy Commissioner Lahore, Umer Sher Chattha in a tweet shared the list of 62 petrol pumps that are opened in Lahore today.

    Earlier this month, the government had announced the rise of up to Rs 8.14 per litre of petroleum products.