Category: Petroleum

Petroleum

Petrol shortage of Pakistan Worsens as Time Passed

Its now days after petrol shortage started, the queues of People waiting for the fuel are getting longer and longer but more than half of petrol pumps are now closed. Other ones are only providing the petrol worth of just 500 to 250 Rupees per vehicle. Shortage started when PSO was denied by suppliers because it did not had payed for the petrol it had got earlier on credit as PSO (Pakistan State Oil) had exhausted its all credit lines due to non payment. Non payment due to circular debt 200 billion rupees. Much of that was created due to non payment of govt departments to PSO for the petrol they had acquired. Most notable non payment of this kind […]

Petroleum

Pakistan Faces Worst Petrol and furnace oil shortage

All over the country there are long queues of vehicles waiting to be refilled. Petrol is available but it is in low quantities. Way lower than the demand, all the petrol stations are being provided with much lower than routine quantity of petrol. The reason for petrol shortage is, PSO’s circular debt have increased to 200 billion Rupees and they does not have enough funds to buy petrol from refineries. Government also have done less in helping PSO (Pakistan State Oil) decreasing its circular debt. Punjab being most densely populated province of country is hit worse by the fuel shortage. Very long queues are seen on fuel-less fuel stations, as of today, the most fuel stations are no more able […]

Petroleum

Prices of petrol and High Speed Diesel increased heavily by Government of Pakistan

Recently Pakistan Muslim League – Nawaz (PML-N) which is in government right now, seems to be punishing people for giving them heavy mandate. They have recently increased the prices of Electricity very much heavily along with price hike in petroleum prices. Price of petrol have been increased by Rs. 4.12, which would now set new per liter price at Rs 113.25 from the previous Rs. 109.13. Similarly price of high speed diesel have been increased from Rs. 112.26 to 116.95 with increase of whooping Rs. 4.69 per liter. Price of High Octane Blending Component (HOBC) have also been increased by Rs. 5.57 to 143.90 per liter. Not only this, the price of kerosene oil have been also increased, this is […]

Petroleum

CNG price reduced by 31 Rupees in Pakistan on Supreme Court order

Supreme court ordered that CNG price must be reduced by 30 rupees and 90 paisas. Oil and Gas Regulatory Authority (OGRA) have already followed the Supreme court orders and already issued the notification to reduce the CNG price by 30 rupees and 90 paisas. Also due to Eid-Al-Adha their would be no CNG Load Shedding in Islamabad Region. After reduction of 30 rupees and 90 paisas new price of CNG is set to 61 rupees and 64 paisas. Previously the CNG was being sold at Rs. 92.54 where as per kilogram cost of CNG was less than half of the previous listed price.

Petroleum

Hilarious decrease in price of CNG

As recently Oil and Gas Regulatory Authority (OGRA) had increased the price of CNG by Rs. 8 on December 30th 2011.  That triggered the strike from the CNG association as well as from the pubic transport unions. One other reason was closure of CNG for more than half a week each week so public transporters were not being able to get tanks filled. Yesterday after success of the dialog between CNG Association/Transporters and OGRA, OGRA with other measures taken also had told transporters/CNG Association that they will decrease the price soon. Today this hilarious decision came from OGRA, which is that price of CNG have been decreased 36 Paisas.  As just few days back the price was increased by 8 […]