ISLAMABAD – The month of January had witnessed demand for motor gasoline (mogas) averaging up to 15,500 tons per day compared to 12,300 tons of the preceding month, according to officials at Oil Companies Advisory Council (OCAC).
As per OCAC numbers, the country’s present storage capacity for mogas and high speed diesel (HSD) stands at 980,000 metric tons (MT) and 207,000 MT. Moreover, this increased demand had also been recorded at an astronomical level of 28,300 tons per day during the first three days of last month. Since June last year, the prices of US WTI crude have almost bottomed out at $ 50 a barrel.
The experts, however, believe that the turnaround period of oil imports must be taken care of while calculating demand for fuel. Senior development expert Nisar Ahmed says (OCAC) must ensure a 10-15 days supply cover to effectively cope with January-like crisis.
In their 20-page report, the judicial investigators also have highlighted Ogra’s failure to build new storages in the country.
