ISLAMABAD: The Petroleum Division Tuesday said the country has enough stock of petrol and High-Speed Diesel (HSD) to meet the domestic requirements after allowing Oil Marketing Companies (OMCs) to recover Rs10 per litre on HSD for the next two months (November-December 2022) by increasing the upper limit of premium to $15 per barrel.

Due to limited imports and finite local availability, the OCAC had warned the federal government about the possible shortage of petrol and HSD in coming days.

OCAC warns Pakistan could see shortage of petroleum products in coming days

The OCAC wrote to the Oil and Gas Regulatory Authority (Ogra) that the shortfall would be due to the limited supply and high premiums on fuel stocks in the international market.

On Friday, the Economic Coordination Committee (ECC) presided over by Finance Minister Ishaq Dar allowed the summary moved by the Ministry of Energy (Petroleum Division).

The ministry sought by loading the country’s risk factors of $6 bbl, with the upper limit premium of $15 to the OMCs for price computation to ensure sustainable HSD imports for November-December 2022.

Copyright Business Recorder, 2022