Web Desk: Government is expected to raise petrol and diesel prices in its upcoming fortnightly fuel price revision, with high-speed diesel (HSD) likely to register the steepest increase following higher international oil prices, officials familiar with the estimates said.
Preliminary calculations indicate that HSD could become up to Rs. 40 per litre more expensive, while petrol prices may rise by about Rs. 10 per litre. The revised rates are expected to take effect from July 18.
Authorities are also considering reducing the petroleum levy to cushion part of the increase and lessen the burden on consumers, officials said. However, no final decision has been announced.
Meanwhile, reports of diesel hoarding have surfaced in several areas as dealers anticipate higher prices. Some filling stations have experienced temporary shortages, although officials said the country’s overall fuel reserves remain sufficient to meet demand.
The issue came under review during a meeting of the National Committee on Monitoring and Coordination (NCMC), attended by representatives of the Oil Companies Advisory Council (OCAC), the Oil and Gas Regulatory Authority (OGRA) and other government agencies.
Officials told the meeting that petroleum sales during the first half of July rose well above normal consumption patterns. The unusual increase prompted concerns that some dealers and distributors may have been stockpiling fuel ahead of the anticipated price adjustment.
According to OGRA’s assessment, the unexpected surge in demand appeared consistent with reports of speculative hoarding.
Following the review, the committee instructed OGRA to intensify market surveillance and strengthen enforcement against hoarding and other speculative activities.
Provincial administrations were also directed to inspect fuel outlets and take action against anyone found creating artificial shortages or disrupting the supply chain.
Despite concerns over localised shortages, officials emphasised that Pakistan’s petroleum stocks remain adequate. They also urged consumers to avoid panic buying and directed oil marketing companies to maintain uninterrupted fuel supplies nationwide.
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