Fuel reserves stand at 12 days for crude, 25 days for diesel: Finance Ministry

ISLAMABAD: The Ministry of Finance says that the country currently has enough crude oil reserves for 12 days, while there are diesel reserves for about 25 days.

According to the details, Finance Minister Muhammad Aurangzeb reviewed the market situation and supply chain in detail after the fluctuations in the prices of petroleum products. The meeting was briefed by the Petroleum Division, OGRA and other officials.

A statement issued by the Ministry of Finance said that the committee was informed that the fuel supply in the country is satisfactory. The country currently has diesel reserves for about 25 days, while crude oil reserves for refinery operations are sufficient for 12 days.

Ample reserves of petrol are available to meet the current market demand, while all arrangements for oil import for the coming weeks are ongoing under agreements.

The meeting revealed that the price of petrol has increased by 48.61 percent and the price of diesel by 101.18 percent in a year.

The committee stressed that uninterrupted supply of energy should be ensured at all costs for key sectors like agriculture, transport and industry.

The Finance Minister directed OGRA to expedite the process of data reporting and digitalization to bring transparency in the supply chain.

In addition, it has been decided to deploy special teams for monitoring at PSO pumps in Islamabad. These teams will include representatives of FIA, OGRA, Petroleum Division and PSO who will ensure transparency of stock and timely data entry.

Muhammad Aurangzeb clarified that uninterrupted supply of fuel and protection of consumer rights is the top priority of the government.