ISLAMABAD: The delay in conducting a study has disrupted the government’s plan to increase margins of dealers and oil marketing companies (OMCs) on sale of petroleum products.
The Oil and Gas Regulatory Authority (Ogra) and Planning Commission have refused to bear the cost of study. The Covid-19 outbreak also caused delay in conducting the study.
The Petroleum Division informed the Economic Coordination Committee (ECC) in a recent meeting that the ECC, while considering a summary on October 7, 2019 for the review of margins on petroleum products, had approved the revision in margins of OMCs and dealers on petrol and high-speed diesel on the basis of average inflation, as recommended by the Planning Division for the whole period (April 2018 to May 2019) ie 6.58% effective from December 1, 2019. Read more…..
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