PPDA Raises Concerns Over OMCs' Alleged Manipulation

The Pakistan Petroleum Dealers Association (PPDA) has raised concerns over major oil marketing companies (OMCs) allegedly creating a shortage of petroleum products to maximize profits ahead of an expected price hike. The PPDA has urged the government and the Oil and Gas Regulatory Authority (Ogra) to promptly investigate and resolve this issue.

Insiders in the industry have disclosed that the upcoming increase in petrol and high-speed diesel prices may surpass initial estimates. This escalation is attributed to a recent surge in prices in the Middle East market, which occurred on Tuesday and Wednesday.

The PPDA, representing petroleum dealers across Pakistan, has accused OMCs of manipulating supply to artificially inflate prices. This alleged tactic is believed to be a strategy to capitalize on the impending price adjustment and generate higher profits at the expense of consumers.

The situation highlights the delicate balance between market forces and regulatory oversight in the petroleum industry. As consumers brace for potential price hikes, the call for transparency and fair practices becomes more pronounced. It is essential for authorities to address these concerns swiftly to ensure a stable and equitable energy market for all stakeholders.