ISLAMABAD: The Oil Tankers Owners Association has made a significant announcement that could potentially disrupt the availability of fuel in several vital regions. They declared a suspension of petrol and diesel supply, effective starting Tuesday.
This decision follows the association’s claim of a reduction in the oil quota allocated by Antamiya. The regions to be affected include Rawalpindi, Islamabad, Azad Kashmir, and Gilgit-Baltistan, where consumers may encounter difficulties in obtaining petroleum products. Moreover, the association specified that supply to all airports nationwide would cease.
The association has emphasized that the supply interruption will persist until their demands are met. Despite attempts to communicate with Pakistan State Oil (PSO) officials and the Deputy Commissioner of Islamabad, there has been purportedly no response.
At the heart of their grievances is the issue of meeting demand under a metered system, which the association insists must be promptly addressed.
They argue that the district administration and officials have violated the terms outlined in the agreement reached on February 20.
Meanwhile, the government has implemented a significant hike in petrol and diesel prices, raising them by Rs 4.53 and Rs 8.14 per litre, respectively.
As of April 16, the new rates stand at Rs293.94 for petrol and Rs290.38 for diesel. This increase comes amid expectations due to higher international market rates, despite a reduction in import premiums and a slightly improved exchange rate.
Petrol primarily fuels private transport, small vehicles, rickshaws, and two-wheelers, while diesel powers heavy vehicles, trains, and various agricultural machinery such as trucks, buses, tractors, tube wells, and thrashers.
Fuel prices undergo revision by the government every fortnight, influenced by several factors including international market prices and the exchange rate of the rupee.
On Monday, oil prices experienced a decline of approximately 1% per barrel following Iran’s attack on Israel, which turned out to be less damaging than initially feared. This alleviated concerns of a rapid escalation of conflict that could disrupt crude oil supply. Brent futures for June delivery dropped by 91 cents to $89.54 per barrel, marking a 1% decrease, while US crude futures for May delivery fell by 87 cents to $84.79 per barrel, also reflecting a 1% loss.
I am an experienced writer, analyst, and author. My exposure in English journalism spans more than 28 years. In the past, I have been working with daily The Muslim (Lahore Bureau), daily Business Recorder (Lahore/Islamabad Bureaus), Daily Times, Islamabad, daily The Nation (Lahore and Karachi). With daily The Nation, I have served as Resident Editor, Karachi. Since 2009, I have been working as a Freelance Writer/Editor for American organizations.
