Petrol prices rise to Rs 336/litre in Pakistan:Diesel soars to Rs 321/litre; huge crowds gather at petrol pumps fearing shortage

Pakistan has increased petrol and diesel prices by about 20%. The prices of petrol and diesel have been increased by up to Rs 55 (Pakistani rupee) per liter. After this increase, the price of petrol in Pakistan has now become Rs 335.86 per liter. While diesel has reached the level of Rs 321.17 per liter. The government’s argument is that due to the US-Israel and Iran war and tensions in the West Asia, crude oil prices have risen sharply in the international market, which led to this decision. Crowds gathered at petrol pumps
As soon as the news of price increase came, large crowds gathered at petrol pumps in major Pakistani cities like Lahore and Karachi. People were seen waiting for hours for their turn. People fear that there might be a shortage of oil in the coming days. Strict action will be taken against hoarders: PM Shahbaz
Prime Minister Shahbaz Sharif has given a stern warning amid rumors of petrol shortage and complaints of hoarding. He has said that strict action will be taken against those who are hiding petrol stocks. Petroleum Minister Ali Parvez Malik clarified that there are adequate petrol reserves in the country. No idea when West Asia crisis will end
The Pakistan government says they are planning to stretch the current petrol reserves for a long time. The minister said that we don’t know when this Middle East crisis will end. It could affect the supply chain, so we need to be prepared in advance. LPG Gas Cylinder Price Also Increased in India
In India too, the central government has increased the domestic gas cylinder price by ₹60 from March 7. In Delhi, 14.2 kg LPG gas will now cost ₹913. Earlier it was ₹853. Meanwhile, the 19 kg commercial cylinder has been increased by ₹115. It will now cost ₹1,883. Order to increase LPG production to prevent shortage
On March 5, using emergency powers, the government ordered all oil refinery companies in the country to increase LPG production. Gas supply could be affected due to rising tensions in the Middle East. The government issued this order keeping in view this danger. It states that refineries will now use propane and butane only for making cooking gas. All companies will have to supply propane and butane to government oil companies. Government oil companies include Indian Oil (IOC), Hindustan Petroleum (HPCL) and Bharat Petroleum (BPCL). The aim is to ensure uninterrupted supply of gas cylinders to consumers. Crude oil prices reach $90
A statement given by US President Donald Trump regarding Iran has created turmoil in the global energy market. Trump has demanded ‘unconditional surrender’ from Iran, after which crude oil prices are seeing a sharp rise. On Friday, crude oil WTI futures reached $90.90 per barrel with a gain of 12.2%. India can buy crude oil from Russia
The crisis of rising petrol-diesel prices in India is over for now, as India has received exemption with conditions to buy crude oil from Russia. The US Treasury Department has given Indian refineries a 30-day special license. This license will remain valid till April 3.