ISLAMABAD: The preparations to increase profits of companies and dealers on petrol and diesel have been completed.
According to details, a summary of the proposed increase has been sent to the Economic Coordination Committee (ECC), and a decision is expected soon. Sources divulged that the ECC will decide on the profit margins of oil marketing companies and dealers. The proposed increase may raise the price of petrol and diesel by up to Rs2.40 per litre.
It has been suggested that the profit of OMCs and dealers be increased by Rs1.10 to Rs1.28 per litre. At present, oil marketing companies earn a profit of Rs7.87 per litre of petrol.
Sources privy to the development also added that the profit on diesel for oil marketing companies is also Rs7.87 per litre. Currently, dealers earn a commission of Rs8.64 per litre on both petrol and diesel.
The consumers are paying a combined profit of Rs16.51 per litre to OMCs and dealers on petrol. The same amount, Rs16.51 per litre, is paid on diesel.
Implementation will follow approval from the ECC and endorsement by the federal cabinet.
