Islamabad, July 24 — People in Dera Ismail Khan and other areas of Pakistan's Khyber Pakhtunkhwa province are facing problems after several fuel filling stations ran out of fuel due to shortage of petrol, local media reported on Friday.
Local residents said that shortage of fuel disrupted daily life, business activities and transport service. Many said that they were forced to travel from one petrol pump to another in search of fuel, leading Pakistani daily Dawn reported.
Many alleged that some people were selling petrol illegally in residential areas at higher prices. The residents said that petrol was being sold for as much as Pakistani Rupees (PKR) 400-500 per litre, which is above the official rate. The fuel shortage has resulted in rise in fares of public transport, putting an additional financial burden on commuters, daily wagers, students and workers.
Several fuel filling stations, especially along Chashma Road, remained shut due to non-availability of fuel. People urged authorities to ensure immediate restoration of fuel supplies and take action against hoarders and profiteers, Dawn reported.
On Thursday, the Pakistan federal government hiked the prices of petrol and high-speed diesel (HSD) by PKR 4.40 and PKR 3.62 per litre, respectively, for Friday (July 24), Pakistan's Express Tribune reported.
The price of petrol stood at PKR 331.52 per litre while HSD will be sold at PKR 378.66 per litre, a notification issued by Pakistan's Ministry of Petroleum detailed.
This is the fourth consecutive day that the Pakistan government has changed the prices of petrol and HSD after its decision last week to switch to a daily fuel price review mechanism amid volatility in global oil prices after renewed hostilities in West Asia.
According to the new system, daily fuel prices will be decided based on a seven-day average of global market rates to align with international standards.
On July 17, Pakistan's Petroleum Minister Ali Pervaiz Malik and Information Minister Atta Tarar announced that the government has implemented a daily pricing mechanism, adding that the changing rates would be published by the Oil and Gas Regulatory Authority (Ogra) on its website. He stated that the Ogra would decide price of fuel on a daily basis on the basis of international market trends.