While the country’s misfortunes are well documented, no apparent end to the tales of woe and misery in Pakistan is portraying a horrific picture. Following a proliferate jump in petrol price along with car prices, petroleum sales in the country is facing a major downtrend.
As per media reports, PSO, Attock, and Shell observed a significant dip in their sales in the face of recent back-to-back price hikes. A year-on-year comparison of POL Products revealed that sales decreased by 21%, standing at 1.22 million tons last month against 1.54 million tons recorded in the corresponding period of last year.
Moreover, Furnace oil sales marked a new low of 47% (YoY), whilst High-Speed Diesel (HSD) went down by 19% as compared to what charts flaunted in September on a year-on-year basis. Coming to month-on-month comparison, fuel sales witnessed a decline of 15%.
Petrol Price Decreased by Rs. 5
In shockingly unexpected news, petrol price has fallen down. Earlier in the day, OGRA had suggested a price increase for all petroleum products, but the government seems to have paid no heed to that advice. Instead of hiking the petrol price, the government has chosen to decrease the cost of petrol.
New Petrol Price
The price of petrol fell by Rs. 5, and now it costs Rs. 267 instead of Rs. 272. We know it’s not a huge price difference and will not make any difference in the inflation, but it is still something.
The diesel price remains the same as before, which is Rs. 280.
We hope this price reduction is continued in future and is not just a buffer to increase petrol prices once again massively.
What do you think about the recent decline reported in fuel sales? Tell in the comments section.
