This is in reference to analysis by Dr. Farrukh Saleem on petrol prices in Pakistan through his vlog on social media which states that the prices of petrol have gone up only 17 percent internationally in the last one month. The contents are misleading and ignore the 30-45 days pricing cycle used in Pakistan as per regulation. The base price of Petrol in Pakistan is fixed on the basis of PSO’s actual imports, which are linked with international Arab Gulf Platts. All cargoes imported since the last cargo used in the preceding price announcement are averaged to arrive at the prices for the following month. The base price for PSO used for June 1, 2020 was $ 17.79/bbl which included all cargoes from end of April till third week of May 2020.The average price of PSO purchases from such time to June 26, 2020 was $ 38.32/bbl showing an increase over 100 percent, all linked to international prices. Therefore, the prices announced on 26th are reflective of International prices, based on PSO pricing cycle, and do not give any net benefit to Oil Marketing Companies (OMCs) Even after this increase, the current petrol prices in Pakistan are significantly cheaper than region and most oil importing countries.
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