Engine oil price doubled in past two years
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After petroleum products, the prices of engine oil have also skyrocketed as motorcycle engine oil, which used to cost Rs350 has now reached Rs650, reported 24NewsHD TV channel on Thursday.
Prices have increased sharply in the past two years as a 4-liter can of car engine oil, which was worth Rs2,500 in 2022, is available for Rs4,500 today while 700 ml motorcycle engine oil has increased from Rs350 to Rs650.
Zahid Amin, Senior Vice Chairman of the All Sindh Lubricant Dealers Association, held the government responsible for price hike.
He said that oil marketing companies have been given a free pass. “If trade with Iran and Russia is promoted, prices can be reduced by 30 to 40 percent”, he said.
Citizens are upset over the rise in engine oil and they said the government has made everything out of reach, motorcyclists are now forced to buy only cheap oil.
Citizens have demanded that the government should take steps to reduce engine oil prices.
Meanwhile, Arif Habib Research has released a report on petroleum product sales.
According to report, sales of petroleum products decreased on a monthly basis while increased on an annual basis.
Report said sales of petroleum products in December 2024 were 1.28 million tons as sales of petroleum products increased by 3 percent in December 2024 compared to December 2023.
Sales of petroleum products decreased by 19 percent in December 2024 compared to November 2024 as sales of petroleum products in November 2024 were 1.58 million tons.
Sales of petrol in December decreased by 15 percent compared to November to 6.70 million tons.
Sales of high-speed diesel in December decreased by 27 percent compared to November to 570000 tons.
Sales of furnace oil in December increased by 12 percent compared to November to 400,000 tons.
Sales of petroleum products in the first six months of the current fiscal year increased by 4 percent to 8 million tons while the sales of petroleum products in the first six months of the last fiscal year were 7.68 million tons.
Reporters: Kawish Memon and Ashraf Khan