As the month of june-2020 going to an end, and whisper has been start among the people that will petrol price and shortage in pakistan same in july-2020?
Due to increase in oil prices in international market, fuel price in Pakistan from july-2020 will increase. There is 100% increase in crude oil prices in international market from the last month two month. two months before it was trading at $19.9 and currently it is trading at $40 per barrel.Experts make prediction that increase in fuel price will be between Rs 5 per ltr to Rs 8 per Ltr.
Oil Shortage in Lahore Pakistan
There is still shortage of oil in Lahore and large queues seen at petrol Pumps and they were giving fuel of amount maximum Rs 500, and many pumps are closed due to not availability of fuel supply.
Petroleum product dealers saying that there is a chance of further shortage of oil from next month due to increase in oil price and it will get worse if authority fail to take any action against oil marketing companies.
According to petroleum dealer association of Pakistan secretary general Khawaja atif said Lahore is getting 40% fuel supply and large portion of it providing by PSO. (express tribune)
Impact on transport industry
Three factors, shortage of supply, increase in fuel price and covid-19 put a large impact on fares of public and private transport. This increasing in transportation cost of goods and services will lead to increase the prices of goods and service in the economy that’s result will increase inflation rate in the economy.