No shortage of petroleum products in country: Ogra

• Country holds adequate stocks of petrol, diesel, says Ogra.   
• spokesperson advises citizens not to pay attention to rumours.
• Says taking measures to discourage hoarding petroleum products.
  

The Oil and Gas Regulatory Authority (Ogra) on Wednesday assured the public that the country holds adequate stocks of petrol and diesel, saying that there is no shortage of petroleum products.

The assurance came hours after All the Pakistan Petrol Pump Owners Association (APPPOA) penned a letter to Prime Minister Shehbaz Sharif, seeking his intervention to avert an artificial shortage of fuel in the country.     

 In the latter, the APPPOA accused the oil marketing companies (OMCs) of imposing a quota on petroleum products amid the ongoing Gulf crisis. “They [OMCs] are either not providing the product or have limited to such an extent that we hardly fulfil the need of the public or fuel stations get dry,” they added.

In a statement, a spokesperson of the Ogra said: “The public is reassured that the country currently holds adequate stocks of petrol and diesel, well within the required limits.”

The spokesperson advised the citizens not to pay attention to the rumours and rely only on information issued through official channels.

“To ensure the uninterrupted availability of petroleum products and to discourage hoarding during periods of extreme price volatility, OMCs may temporarily regulate supplies to retail outlets based on their historical sales patterns,” the official added.  

The Ogra spokesperson further said that this measure is a standard supply management practice aimed at maintaining stability in the distribution system.

Cabinet body reviews energy supply situation

Earlier in the day, Minister for Finance and Revenue Senator Muhammad Aurangzeb emphasised that ensuring uninterrupted availability of petroleum products remains the government’s foremost priority and will continue to guide all policy decisions.

The minister chaired the meeting of the committee, constituted by the prime minister to monitor petrol prices in the wake of the emerging situation in the region.

The finance minister reiterated that the committee is monitoring developments on daily basis and is prepared to take timely and coordinated measures to safeguard national energy security and maintain stability in domestic markets.

The committee continued its deliberations on the evolving regional and global energy situation and undertook a detailed review of petroleum stock levels and supply chains across the country.

Participants were briefed on country stock levels of crude oil and refined petroleum products, including petrol, diesel, aviation fuels and LPG, along with their respective days of cover and daily consumption patterns.