No need for panic buying fuel, Pakistan has 'sufficient stocks': Petroleum Division

No need for panic buying fuel, Pakistan has 'sufficient stocks': Petroleum Division

ISLAMABAD: There was no need for people to panic-buy oil products as Pakistan had "sufficient stocks", the Ministry of Energy's Petroleum Division said on Sunday.

The statement was issued following reports speculating on a shortage in the country's fuel reserves.

The Petroleum Division noted that high sales volumes were witnessed on May 1 and 2 "due to sizable reductions in price of POL for which petrol pumps didn't procure POL [petroleum oil lubricants]" from the oil marketing companies (OMCs).

"However, sufficient stocks of petrol (285,000 MTs) and diesel (350,000 MTs) are available to cater the demand of country for next 15 days," read a statement on Twitter.

"Further, PSO's 2 vessels carrying around 50,000 MTs & 55,000 MTs petrol & diesel, respectively, have berthed at Keamari Port & Port Qasim," it added.

This means that the state-owned Pakistan State Oil (PSO) has two ships — carrying 50,000 metric tonnes and 55,000 metric tonnes of petrol & diesel, respectively — ready to be distributed.

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