OGRA informed about possible fuel shortage in Pakistan 

KARACHI – The oil industry has informed the government about an expected petrol shortage in the coming days due to inadequate imports and limited local availability.

In a letter written to the Oil & Gas Regulatory Authority (OGRA) about the shortage, the Oil Companies Advisory Council (OCAC), a representative body of the oil sector, has informed the regulator about the situation.

The OCAC said that motor spirit/petrol and HSD imports were finalised after extensive deliberation and allowed to oil marketing companies (OMCs) in line with their demand in product availability review of products for the month of November 2022.

Under product review, deficit of 210,000 MT of HSD and 147,000 MT of petrol was worked out. It was highlighted in the meeting that HSD imports in November might be challenging owing to limited availability in the international market and very high premiums; hence so far, only PSO has booked shipments of 220,000 MT & 10,000 MT by Flow Petroleum.

However, it is alarming to note that petrol import corresponding to the anticipated sales volume and stock cover has also not been booked. The import plan should have been finalised by the importers but, so far, there is a deficit in the import plan, the OCAC letter said.

Today's gold rates in Pakistan – 07 November 2022