KARACHI:
Petroleum products were not available at several petrol pumps on Tuesday after the Oil and Gas Regulatory Authority (OGRA) reduced the prices of petroleum products by 5 to 8 per cent.
The new prices were to take immediate effect starting June 2010.
According to sources, in wake of reduction in oil prices, the owners of petrol pumps stopped purchase of petroleum from oil marketing companies during the last days of May. The situation is causing agitation amongst the residents.
The complaints about non-availability of petroleum were been received in North Karachi, New Karachi, Baldia town and Gulshan Iqbal.
Commuters complained that petrol pumps start storing diesel and petrol when they receive information about increase in petroleum prices to make escalated profits. But now, when they came to know about reduction in petroleum prices they have stopped purchasing petroleum products.