Drastic cut in petroleum prices by federal government on cards

[Imran the legend]

ISLAMABAD – The prices of petroleum products are expected to be cut drastically by federal government.

Petroleum prices are expected to be cut by Rs5 to Rs7 ‎per liter from coming month. ‎

According to details, the rate of crude oil in international market has witnessed a sharp decrease of 25 ‎percent in a month.

Earlier, a resolution was tabled in Punjab Assembly (PA) by Pakistan Peoples Party (PPP) lawmaker ‎Hassan Murtaza condemning unlawful hike in prices of petroleum products.‎
Source

 

[Shazi ji]

Great move

 

[Hate_Nooras]

Better not to cut it too much as it may rise just as quickly as it falls. Cut it a little bit and use the savings later not to raise it ,when it goes up.

 

[nomy823]

If the prices in international market have gone down 25% than why only Rs. 5 to 7 decrease for Pakistanis???

 

[akinternational]

Thanks...pmlN and PPP ne kabhi crude oil qimat men kami ka faida awam ko nahin diya....
Shukria IK

 

[Liberal 000]

Better not to cut down prices, collect this money as tax instead of going to IMF

 

[Educationist]

کہاں پر ہیں حرامی نونی کتے

اب انھیں سانپ کیوں سونگھ گیا ہے​

 

[thinking]

That's good..what ever decrease in International oil prices .. benefits should go to consumers..for those orders which places in advance ..when oil prices increases.. then consumers will bears..that's is the real formula....not like previous choor
. Nawaz..Zardari who didn't gave price decreased incentive to the end users..

 

[iftikharalam]

In last 7 weeks, prices decline by more than 30p, why decrease of only 7 per?

 

[Nice2MU]

Earlier, a resolution was tabled in Punjab Assembly (PA) by Pakistan Peoples Party (PPP) lawmaker ‎Hassan Murtaza condemning unlawful hike in prices of petroleum products.‎

اس حرامخور کو کوئی کہے کہ اپنے باپ زرداری اور انکل نواز شریف کو کہوں کہ پاکستانیوں کی لوٹی ہوئی دولت پاکستان وآپس لے آئے تو حکومت تیل 25 روپے فی لیٹر کردیگی۔۔۔۔۔
​

 

[ajoba]

In last 7 weeks, prices decline by more than 30p, why decrease of only 7 per?

There is always a time lag of 2-3 months even more from the time oil is bought from International market till it get to car/bike's tank. So the prices will go down slowly starting December. Hope it make sense to you. Also, as Pakistan is importing gas now and prices are tied to petrol in int market, so expect price of gas go down as well.

 

[JohnSnow]

There is always a time lag of 2-3 months even more from the time oil is bought from International market till it get to car/bike's tank. So the prices will go down slowly starting December. Hope it make sense to you. Also, as Pakistan is importing gas now and prices are tied to petrol in int market, so expect price of gas go down as well.

No that is not the case. There is surplus oil supply tankers in the ocean from oil producers and can be offloaded in Pakistan within hours of placing orders. Also prices in Pakistan are reviewed on monthly basis. You are talking about old days during Musharraf tenure when everything use to work on 3 month basis.

 

[JohnSnow]

In last 7 weeks, prices decline by more than 30p, why decrease of only 7 per?

Yes, you are right. Prices have been continuously falling for almost 2 months. This 5-7 rupees decrease is a joke.

At peak it was $85 and now it's down to $59. But Asad Umar is joker and an incompetent man, so he'll sugar-coat it one way or another.

 

[ajoba]

No that is not the case. There is surplus oil supply tankers in the ocean from oil producers and can be offloaded in Pakistan within hours of placing orders. Also prices in Pakistan are reviewed on monthly basis. You are talking about old days during Musharraf tenure when everything use to work on 3 month basis.

you would not want to buy oil from stray tankers, would you?

 

[Renegade]

That's good..what ever decrease in International oil prices .. benefits should go to consumers..for those orders which places in advance ..when oil prices increases.. then consumers will bears..that's is the real formula....not like previous choor
. Nawaz..Zardari who didn't gave price decreased incentive to the end users..

No..they rather gave the consumers too much benefit, just last year petrol was Rs. 73. If they were smart they would have made some savings and could've resolve potentially every circular debt problem.

Keep in mind that at this very moment the price of petrol in India is $1 per liter, and in Pakistan it is $0.73 per liter. Indian govt. is making a lot of profit. Asad Umar shouldn't decrease prices too much, make some savings and resolve issues.

 

[JohnSnow]

you would not want to buy oil from stray tankers, would you?

I am sure a school kid is smarter than you.

These are legitt tankers from Saudis and other middle eastern oil producers parked all over the shipping lanes waiting to be purchased by any buyers. They have been using this method for over 10 years to capture maximum market share.