Oil Usage has been Declined in Pakistan

Oil consumption is declined in Pakistan due to price hike, petroleum prices is decreased 21 % and diesel is decreased with rate of 44% , people’s purchasing power is reduced  because price are continuously increasing, The country’s consumption of two key petroleum products, Petroleum Motor Gasoline (PMG) or petrol and HSD, has declined by 21 per cent and 44 per cent, respectively due to measures taken by the government to curtail imports and massive increase in their prices by the incumbent government.

Industry source

According to Industry sources told Business Recorder that daily consumption of diesel has reduced to 13,000 MT per day from 23,000 MT whereas consumption of petrol has declined to 19,000 MT per day from 24,000 MT, this is major difference. If the current pattern of consumption continues during the remaining days of current month, then petrol stock is enough for 32 days and HSD for 62 days,” said industry sources. Presently, the stock of PMG stood at 695,000 MT whereas stock of HSD was 760,000 MT.

Oil prices in international market

Oil Prices was up in international market due to war and after post covid-19 shocks the major high was 129$ then continuously prices are decreasing now oil prices are trading with 94$ due to stability in war. According to experts may be in fee week prices will be 8o$.