Plan afoot to increase profit margin of oil companies, dealers

ISLAMABAD: The Petroleum Division is all set to increase profit margin of oil marketing companies (OMCs) and dealers on petrol and diesel.

Sources said that a proposal has been put forth to introduce an additional 88 paisa per liter increase in profits of OMCs and dealers, starting from October 16.

According to the Petroleum Division sources, the proposal has recommended a 47 paisa per liter increase in profits for OMCs, while dealers may see a proposed increase of 41 paisa per liter on petrol and diesel.

Sources also stated that OMCs and dealers’ margins were previously raised on September 16 and October 1.

As of now, , oil marketing companies are making profits of Rs6.94 per liter petrol, while dealers are earning Rs7.82 on each liter of petrol. On diesel, oil marketing companies’ profits stand at Rs7.08 per liter, and dealers are currently collecting a margin of Rs7.82 per liter.