Another petrol price drone ready to hit Pakistanis

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ISLAMABAD: A new financial punch is in the works for Pakistanis as the government is planning to increase the margin of petrol dealers and oil marketing companies by up to Re1 to Rs1.50 per litre, a senior official at the Ministry of Petroleum and Natural Resources told The News.

 

 

 

“The government wants to increase the margin to accommodate both dealers and oil marketing companies which are arguing that they are unable to run their businesses onthe existing volume of their margin on petroleum products,” said the official.

 

 

 

“The dealers and OMCs’ margin is also part of the price of POL products, which means that consumers pay the margin and now they will pay more as the Ministry of Petroleum and Natural Resources seems inclined to increase the margin.”

 

 

 

The official said the dealers and OMCs have submitted their demand to the Ministry of Petroleum and Natural Resources seeking the increase in their margin by Re1 to Rs1.50 per litre.

 

 

 

The top mandarins of the ministry are going to hold crucial talks with dealers and OMCs with inclination to accommodate both the important players in the transportation of the POL products up country.

 

 

 

Last year the margin for dealers was increased by Re0.50 per litre on petrol and Re0.70 per litre on diesel. Likewise, last year OMC’s margin on petrol was increased by Re0.48 per litre and on diesel Re0.41 per litre. “The final approval to the further increase in margin of dealers and marketing companies would be given by the Economic Coordination Committee (ECC),” the official said.

 

 

 

The ECC accorded approval to increase the margin of dealers and oil marketing companies in August last year. The Ministry of Petroleum and Natural Resources at that time had extended the assurance to dealers and OMCs that their margins will further be increased in a year.

 

 

 

The oil marketing companies are currently charging their margin on petrol at Rs1.98 per litre, high speed diesel Rs1.76 per litre, HOBC (high octane blending component) Rs1.72 per litre and on kerosene oil Rs1.58 per litre. Similarly, dealers are charging their margin on petrol at Rs2.70 per litre, diesel Rs2.20 per litre, HOBC Rs2.15 per litre and charging zero on kerosene oil.

 

Courtesy: The News


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