The country’s petroleum product sales are expected to increase in November 2022, according to the Oil Companies Advisory Council (OCAC). The ongoing agricultural season and the government’s accelerating pace of infrastructure reconstruction in flood-affected areas are the main factors driving the high sales trend. The influence of the Russia/Ukraine conflict on oil prices and supply has produced market volatility since February 2022. Despite the difficulties, the oil industry has been working successfully to supply the nation’s need for fuel, supported by local refineries and through the import of shortfall products.
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The nation has a stockpile of more than 400,000 MT HSD and 500,000 MT MS to meet its energy needs; imports of 250 KT HSD and 364 KT MS have already been finalized, and refineries have committed to delivering domestic fuel in accordance with their planned output. To make sure that the fuel supplies stay optimized to meet the needs of the nation, OGRA, OCAC, and the oil industry review and closely monitor the sales trend on a daily basis through routine consultative engagement sessions.