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Thursday, May 23, 2024

Hammad Azhar rejects media reports of fuel crisis

Minister for Energy Hammad Azhar said there is no possibility of a shortage of petroleum products as at present the country has 27 days of diesel and 28 days of petrol reserves, which are at the highest level as compared to the last many years.

Minister for Energy Hammad Azhar on Friday rejected media reports about ‘possibility’ of any fuel shortage in the country, saying sufficient stocks of petroleum products were available to meet consumers’ needs.

“Contrary to media reports, there is no possibility of shortage of petroleum products as at present the country has 27 days of diesel and 28 days of petrol reserves, which are at the highest level as compared to last many years,” he tweeted.

In addition to the available stocks, Hammad said fresh cargoes of petrol were being received at the ports.

PM reduces prices of petroleum products

Keeping in view the declining price trend in international market, the federal government on Wednesday reduced the prices of all petroleum products with effect from December 16 for next fortnight.

“The government has decided to revise the existing prices of petroleum products in view of the declining price trend of petroleum products in global market and transform the impact to the masses,” said a press statement issued by the finance ministry.

Accordingly, the price of petrol has been reduced by Rs5 per liter, which would be now sold at Rs140.82 against its sale at Rs145.82.

Read more: Pakistani oil prices to go up as international prices reach 2 year high

Likewise, the price of high speed diesel has been cut by Rs5 per liter, from Rs142.62 to 137.62 per liter whereas the prices of kerosene oil has been decreased by Rs7 per liter, from Rs116.53 to Rs109.53.

The government decreased the prices of light diesel oil by Rs7.01 per liter which would be now sold at Rs107.06 against its sale at Rs114.07 per liter.

APP with additional input by GVS News Desk