Top Oil Stocks: PSO to gain after hit in June

Aftab Ahmed

The state-run oil marketing company Pakistan State Oil (PSO) stands at the top among other oil marketing companies (OMCs) with the highest inventory of petrol and high-speed diesel (HSD) to make gains in July following a hefty hike in prices of petroleum products.

The PSO was holding an oil stock of 42097 metric tons on June 26, the day when the government made an increase of Rs 25.58 per liter increase in petrol price. PSO was keeping 15857 tons of petrol at Kemari and 26240 tons at PQA.

In addition to petrol, it was keeping 22287 metric tons stock of high-speed diesel which included 8626 metric tons high speed at Kemari and 13661 metric tons at PQA. The government had raised the price of diesel by Rs 21.31 per liter.

The prices of petroleum products are linked with the actual import price of PSO. The government had reduced the import price of petrol by Rs 6 per liter and Rs 3 per liter diesel. The government would clear price differential claims to PSO in the coming month of August.

According to figures available with Newztodays.com, other oil companies like Shell Pakistan Limited (SPL) had 20,145 metric tons stock of Mogas RON92 at Kemari, TPPL 14819, HPL 20,485, APL 15,45 metric tons. APL had tock of 23,216 metric tons of petrol at PQA.PSO holds a stock of 15857 metric tons at Kemari and 26240 metric tons at PQA.

The total stock of petrol available with OMCs was 77503 metric tons at Kemari and 63285 metric tons. They were maintaining a stock of 17771 metric tons at Kemari and 30,008 at PQA. There are several other small companies that had zero stocks.