ISLAMABAD Refineries, oil marketing companies, and dealers will receive the Rs4.12 per litre relief from the price decrease of Pakistan Oilfields Limited (POL) products for the next two weeks, according to a decision made by the Economic Coordination Committee (ECC) on Tuesday.
According to a senior official who attended the meeting, the decision to hike POL prices by Rs4.12 per litre would remain in place for the next 12 months and will be altered in light of the expected start of the oil price relief on May 16.
In this manner, end users will pay an additional Rs85 billion starting on May 16 in the form of hikes in the margins of OMCs, dealers, and Internal Freight Equalization Margin (IFEM) in the coming year.
