Summary The government had announced remarkable Rs 8 per litre price cut for March
LAHORE (Dunya News) – Petrol consumption hit the highest in country’s history in March this year with locals purchasing at least 5.5 lac tonne, Dunya News reported Wednesday.
Plausibly, price cut by the government in March resulted in at least 22 percent increase in sales. Diesel sales hiked by 16 percent in the aforementioned month taking the consumption tally to 6 lac tonne.
Besides locomotive purposes, furnace oil which is used for power production also saw six percent increased sales. Total of 7 lac tonne furnace oil was purchased in the last month.
Experts have said that both petrol and diesel consumption would recede in April. Petrol, due to import of liquefied natural gas (LNG) and diesel use will lessen due to price hike.
The government had announced remarkable Rs 8 per litre price cut in petrol on February 29.
The revised prices had set the total at Rs 62.77 per litre for petrol, Rs 71.12 for high speed diesel while price of high octane was reduced by Rs 3 per litre.
The Prime Minister had rejected recommendation seeking reduction in kerosene oil price.
However, Rs 1.5 increase in petrol and Rs 1.40 in diesel price was witnessed by start of April.
Federal Finance Minister Ishaq Dar announced the increase and said that Oil and Gas Regulatory Authority (OGRA) wanted the petroleum prices increase more but the government did not approve that.
