After the global rise in the petroleum prices, Oil and Gas Regulatory Authority (OGRA) has also proposed an increase in prices in Pakistan for June 2016 as well. The proposal was forwarded to Ministry of Petroleum yesterday.
The national press has reported that OGRA has proposed an increase of Rs0.85 per liter in petrol, Rs2.18 per liter increase in the price of HOBC, Rs6.68 per liter increase in the price of Hi-Diesel, Rs4.47 per liter increase in the price of Lite-Diesel, and Rs3.97 per liter increase in the price of kerosene oil. It the proposal is accepted, the new prices will be as follows:
|Petrol||Lite-Diesel||Hi-Speed Diesel||Kerosene Oil||HOBC|
The final decision lies in the hands of Finance Minister and the PM Nawaz Sharif. Bear in mind OGRA proposed an increase in prices last month as well which was subsequently rejected by the Prime Minister. Due to the overall reduction in the prices of petroleum products around the world, Pakistan saw three instances where prices were dropped as a relief to Pakistani people.
Suspecting the rise in the prices in Pakistan, the artificial shortage of petroleum products have been noticed throughout the country. It is suspected that the petrol station owners start to hoard illegally the fuel anticipating the price hike. Although the concerned departments have accepted that there have been delays in the delivery of fuel, they are playing a blame game and are pointing to other departments for the inefficiency.
Ministry of Petroleum argues that these matters come under OGRA’s domain, whereas OGRA has claimed that they are doing everything in their power to make sure the deliveries are made possible. On the other hand, Pakistan State Oil (PSO) has told that the supply to fuel pumps across Pakistan has been reduced, but the carriage companies have denied any such allegations. Petrol station owners have put all the blame on Ministry of Petroleum and suppliers, holding them responsible for the fuel shortages.