Petrol and diesel prices are expected to increase in the upcoming fortnightly fuel price review, with high-speed diesel (HSD) likely to witness the biggest jump due to higher international oil prices.
Initial estimates suggest HSD could become costlier by up to Rs40 per litre, while petrol prices may rise by around R10 per litre. The revised rates are expected to come into effect from July 18.
Officials said the government is considering lowering the petroleum levy to reduce the impact of the increase and provide some relief to consumers. Meanwhile, reports of diesel hoarding have surfaced in different parts of the country, with some filling stations temporarily running short of supplies. However, authorities insist that overall petroleum stocks are sufficient to meet demand.
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The matter came under discussion during a meeting of the National Committee on Monitoring and Coordination (NCMC), which was attended by representatives of the Oil Companies Advisory Council (OCAC), the Oil and Gas Regulatory Authority (OGRA), and other government departments.
According to officials, petroleum product sales during the first half of July were much higher than normal, leading to concerns that some dealers and distributors had started stockpiling fuel ahead of the expected price increase. OGRA’s assessment also indicated that the unusual rise in demand could be linked to hoarding.
The committee instructed OGRA to tighten market monitoring and take action against speculative practices. Provincial governments were also directed to inspect fuel stations and act against anyone creating artificial shortages or disrupting fuel supplies.
Officials once again assured that Pakistan has enough petroleum stocks to meet current demand. They also urged the public not to panic buy fuel and directed oil marketing companies to maintain uninterrupted supplies across the country.