KARACHI: The record import of 320,000 tonnes of petrol this month may avert a supply crisis in the near future as prices are going to dip further from Feb 1.

Some of previous high monthly import figures include 283,233 tonnes (in November, 2014), 273,681 tonnes (September) and 267,763 tonnes (April).

“I do not see any petrol shortage as the country has sufficient stocks,” Ilyas Fazil, the CEO of Oil Companies Advisory Council (OCAC), told Dawn on Friday.

He said sluggish petrol sales from Jan 25 onwards showed consumers were buying less in order to avail the benefit of price cut on Feb 1.

Average countrywide petrol sales came down to 8,800 tonnes per day from Jan 25 to 29, compared to 16,300 tonnes per day from Jan 19 to 24, he said.

He said heavy imports were being planned to cope with next month’s expected high demand. “The way petrol demand is rising sharply because of falling prices, imports in February may cross the January’s figure.”

Local refineries were producing 4,500 tonnes per day and the rest of demand was being met through higher imports, he said.

Published in Dawn January 31st, 2015

On a mobile phone? Get the Dawn Mobile App: Apple Store | Google Play