Refuelling station owners welcome oil price hike

The body of vehicle refuelling station owners, Petrol Pump Owner’s Association, has welcomed the government’s decision to hike domestic refined oil prices in keeping with global rates, saying the move will discourage the artificial supply crisis created by “some quarters” in the country.

The organisation’s Member Secretary Mir Ahsan Uddin Parvez issued a statement in this regard, hours after the government announced the price adjustment in the late hours of Saturday.

“Hopefully, the price hike will reduce the tendency to hoard oil and create an artificial supply crisis,” Mir Ahsan said in the statement.

It would bring transparency to the refined oil selling process, and strengthen the supply chain, the statement further said.

In doing so it would bolster trust between oil traders and consumers.

In the statement, Mir Ahsan urged the government to continue taking such pragmatic and time-worthy steps for the sake of ensuring stability in the energy sector in the future.