Petrol and diesel prices are expected to increase in the upcoming fortnightly fuel price review, with high-speed diesel (HSD) likely to witness the biggest jump due to rising international oil prices.
According to preliminary estimates, HSD prices may increase by up to Rs. 40 per litre, while petrol could become around Rs. 10 per litre more expensive. The revised prices are expected to take effect from July 18.
Officials said the government is considering reducing the petroleum levy to soften the impact of higher global oil prices and provide some relief to consumers.
Reports of Diesel Hoarding
The anticipated price hike has reportedly triggered diesel hoarding in some parts of the country, with a number of filling stations experiencing temporary shortages. However, officials insist that Pakistan has sufficient petroleum stocks to meet current demand.
The situation was reviewed during a meeting of the National Committee on Monitoring and Coordination (NCMC), attended by representatives from the Oil Companies Advisory Council (OCAC), the Oil and Gas Regulatory Authority (OGRA), and other government stakeholders.
Fuel Demand Rises Ahead of Price Revision
Officials noted that petroleum product sales during the first half of July rose well above normal consumption levels, raising concerns that some dealers and distributors may be stockpiling fuel ahead of the expected increase.
OGRA’s analysis also indicated that the unusual surge in demand could be linked to hoarding activities.
Govt Orders Strict Monitoring
The committee directed OGRA to strengthen market surveillance and take action against speculative practices. Provincial governments have also been instructed to inspect fuel stations and act against anyone creating artificial shortages or disrupting fuel supplies.
Authorities reiterated that the country’s fuel inventories remain adequate and urged the public to avoid panic buying, while directing oil marketing companies to ensure uninterrupted fuel availability nationwide.
