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In anticipation of an impending price hike in petroleum products scheduled for July 1st, oil marketing companies have ceased the supply of petroleum products to petrol pumps, despite having received advance payments.
Khawaja Atif, Senior Secretary General of the Petroleum Dealers Association, revealed that even tanker trucks prepared to depart from oil depots had their loads of petroleum products canceled.
“If this situation persists, there will be a severe shortage of petrol at pumps throughout Lahore and across the nation, potentially leading to conflicts at petrol stations,” Atif cautioned.
He attributed the halt in supply solely to the expected increase in petroleum product prices, which oil companies intend to capitalize on for substantial profits.
In contrast, Tariq Wazir Ali, Chairman of the Oil Marketing Companies Association, countered that oil marketing companies are facing a shortage of supplies from oil refineries. “Without supplies from the refineries, we cannot fulfill the petrol demand at the pumps. We have formally communicated this issue to the Chairman of OGRA, underscoring our supply constraints. If this situation persists, petrol supply will be severely affected,” he emphasized.
Dismissing these claims, the Senior Secretary of the Petroleum Dealers Association insinuated collusion between oil marketing companies and refineries. “They are conspiring to maximize profits together. Delays in supply and subsequent price hikes will only benefit those holding millions of liters in storage,” he alleged.